Is your business prepared for the future? Many companies overlook succession planning—until it’s too late. Learn why leadership transitions matter, how poor planning has led to corporate failures, and what successful businesses are doing right. Explore practical steps to secure your company’s long-term success and ensure smooth leadership handovers.
Elliot Harris
Top 11 strategies for taking your profitable business to the next level
Congratulations! Your company has transitioned from startup to profitability—a major milestone that few businesses achieve. However, with success comes new challenges, and the most pressing one's how to grow beyond your current level. Here are 11 things you can do to...
The Cost of Not Taking Risk Seriously
Charities and PLCs have long been aware of the need to assess risk but there is little sign of Owner Managed Businesses following suit. The reason is that the first two have the need to assess risk enshrined in recommended practice (although judging by recent reports...
Don’t let your business fall off a cliff—two areas of risk assessment SMEs should pay attention to
While charities and PLCs formally assess business risks, many owner-managed enterprises fail to follow suit. One reason is that sole traders and partnerships don’t have external stakeholders who require risk assessment. Another is that SME owners believe that the only...
How to keep your business on the road
What do we look for when we consider the risk of financial distress? A recent review of a sample of ten companies showing signs of being "at risk of financial distress" found five had an "emphasis of matter" in their auditor's report, and the other five had one or...
Plotting the right strategic course
At every networking event I attend, I learn something. Whether by talking to another business owner or listening to a guest speaker, there are always takeaways to use myself or share with a client. Recently, a speaker started banging on about EEE - an acronym for...
How to rate your accountant
A 31 March year-end is popular. But this may mean your auditor and accountant are squeezing your work into their busiest time of year, with a resultant loss of focus on your business affairs. Review whether you need your work done at a time of the year when the team...
When a business collapses do you always heed the lessons?
When business people see the increasing number of articles coming out about the collapse of businesses in the public eye, there is a temptation to think that it is solely a result of them growing too big and too fast. However, like the collapse of any business, there...
2023 and Beyond. How can a business plan
If you are a small or medium-sized enterprise, as we approach the end of the Annus Horribilis that was 2022 and try and look forward to 2023 the future holds lots of uncertainties. We are on our 3rd Prime Minister this year, we see no end to the war in Ukraine and its...