SHOCKING Revelation: Devastating Small Business Exodus Imminent ONLY if Labor Secures Next Election!

If Labor wins the next general election, many UK small business owners will close or try to sell their businesses.

A recent survey conducted by Evelyn Partners, a leading wealth manager, has revealed that if the Labor party wins the next general election in the UK, two-thirds of UK companies with a turnover of at least £5 million are already preparing plans to exit their business. According to the survey, two in five business owners plan to sell or liquidate their business within the next year, while nearly one in four have accelerated their plans in the last year.

The survey findings have raised concerns among business owners who fear the impact of a change in government and potential tax increases. The uncertainty surrounding the political landscape and the possibility of policy changes have led many businesses to consider selling their assets or liquidating their operations.

The Impact of Political Uncertainty

The political environment in the UK has been volatile in recent years, with controversies and infighting within the ruling Conservative party creating a sense of instability. The recent resignation of Boris Johnson, a prominent figure in the party, along with several of his supporters, has further added to the political turmoil. This uncertainty has provided an opportunity for the opposition Labor party, who are currently leading in the polls and potentially heading towards a majority in the next election.

Business consultant Paul Vousden of Corporate Counsel, who specializes in advising companies on succession planning, believes that the current political situation is a driving force behind the surge in businesses considering exiting the market. He highlights the government’s struggles to steady the ship and restore economic stability as a contributing factor to the concerns of business owners.

Rishi Sunak, the Chancellor of the Exchequer, has been attempting to steer the government towards a more focused and sensible agenda. However, the constant interruptions caused by controversies and internal disputes within the Conservative party have hindered his efforts.

The Need for Proper Planning

While the decision to sell or liquidate a business may seem like a straightforward solution to navigate uncertain waters, it is essential for owners to approach the process with caution. Selling a business too hastily or at a low price can have long-term repercussions, as the owners may regret not receiving the full value for their hard work.

According to the survey, almost half of all planned business sales fail, often at the final stage after incurring significant legal and accounting costs. One of the main reasons for these failures is the lack of preparation, especially on the part of the buyer in terms of thorough due diligence.

Corporate Counsel, a consulting firm specializing in assisting business owners with the sale of their companies, emphasizes the importance of meticulous planning. They evaluate various aspects of the business, such as staffing, contracts, systems, sales, and marketing, to ensure that the owners receive the best possible price for their businesses.

Additionally, Corporate Counsel can assist with price negotiations, serving as a third party to facilitate a smooth and objective process. Their ultimate goal is to ensure that clients receive the maximum rewards for the hard work they have invested in their companies.

Conclusion

As the political landscape in the UK remains uncertain, small business owners are increasingly considering selling their businesses if the Labor party wins the next general election. The fear of potential tax increases and policy changes has led many owners to prepare plans for exiting the market.

However, it is crucial for business owners to approach the sale process with caution and engage in meticulous planning. Rushed decisions or selling at a low price can have long-term consequences. Working with experienced consultants like Corporate Counsel can help owners maximize the value of their businesses and ensure a smooth transition.

If Labor wins the next general election, many UK small business owners will close or try to sell their businesses.

That’s the opinion of leading business consultant Paul Vousden based on the findings of a survey conducted by the wealth manager. Evelyn Partners.

The survey reveals that two-thirds of UK companies with a turnover of at least £5m are already preparing plans to exit their business should Labor win. Two in five owners surveyed plan to sell or liquidate their business within the next year. Nearly one in four business owners said they had accelerated such plans in the last year.

Business consultant Paul Vousden of Corporate Counsel, who advises companies on succession planning, said: “Despite Rishi Sunak’s determination to get the UK government back on a more sensible and focused agenda, it seems being constantly interrupted by controversy and infighting within his own party.

The latest news that Boris Johnson has resigned as an MP with several of his MP supporters following behind he has created another mini-crisis for the Prime Minister as he struggles to steady the ship and head for recovery. Of course, this is great news for Labour, who are way ahead in the polls and appear to be on course for a majority in next year’s election.”

It added: “Concerns about a change in government and potential tax increases were the most common reasons among those who accelerated plans to sell or liquidate their business, cited by 26% of respondents. However, companies that are quick to sell must be careful not to sell too cheap, a decision they may regret for the rest of their lives. The sale must be properly planned so that the owners get the best possible price for their businesses and walk away with a fair reward for their life’s work.

“Statistics show that almost half of all planned business sales will fail, often at the last stage, once the seller has incurred substantial legal and accounting costs. One of the most common reasons a deal falls through is lack of preparation, particularly in terms of due diligence on the part of the buyer.

When we work with a vendor, we look at all aspects of the business, such as staffing, contracts, systems, sales and marketing, and much more. We can also help with the actual price negotiations, as having a third party involved can take some of the excitement out of selling a business. Our goal is to make sure that clients get the maximum rewards for the hard work they have put in at their companies.”

Any business owner thinking of selling their business can speak with Corporate Counsel for a confidential, no-obligation discussion about their requirements.