Hit the new year hard

Welcome to our final Watering Hole of 2024. It’s been an ‘interesting’ year for businesses, but as a company we’re seeing a really strong finish, with several businesses committing this week to working with us on growth plans and exit strategies. ??

Our advice to anyone thinking of exiting their business, at any point in the next few years, is to hit the new year hard. Really think about where you could be by Easter with some dedicated time spent on your business and what your retirement or exit plans might look like. There’s a wide range of options and the earlier you start planning, the more control you will have over your exit plans. Read on for details of a management buyout, tech tips for 2025, and a new member of the herd.?

A business growth plan to support a management buyout?

We worked with K Pak on a business growth plan and management buyout.? James Fielden, MD of K Pak explained how he feels having been through the process:

“I feel really good about it. It’s all worked out very well, to be honest. There were three parties involved in the management buyout, and everyone is happy with the outcome. I have to say, the process wasn’t easy – it was very complicated and difficult at times even with a small number of parties. But working with Elephants Child, and particularly Crawfurd, it always felt like we could achieve what we wanted to achieve, and we were able to move forward without too much stress or pressure.”

Find out more about how the process worked on our website.? https://elephants-child.co.uk/portfolio-items/k-pak/??

?

Is your business tech ready for 2025??

A little preparation today can save you from bigger challenges tomorrow. If you're unsure whether your technology is ready for the future, now is the perfect time to review your setup.?

Our tech partner, CYAN Solutions Ltd has shared their top tips to ensure your business technology will keep up with your goals in 2025?

Outdated technology doesn’t just slow things down. It can disrupt your operations, increase risks from cyber threats, and even damage your reputation.? Two key challenges are:?

Ageing systems: Around half of business IT is nearing the point where it’s no longer supported, like an old car overdue for a service. It works for now, but failures could strike at the worst possible moment.??

Cyber threats: 65% of leaders worry about cyber-attacks, but over half admit they struggle to protect their businesses effectively.?

??

The good news? With some forward planning, you can minimise these risks and future-proof your business.?

• Assess your IT setup: Is any of your tech slowing your team down??

• Plan upgrades early: Don’t wait for something to break before acting.?

• Train your team: Make sure they can use the systems they need confidently.?

• Boost your cyber security: Modern tools and proactive defences are key.

This year at elephants child we upgraded to Cyber Essentials Plus certification with CYAN to improve our IT infrastructure security and protect against cyber attacks. If you want to make sure you are tech ready for 2025 contact Glyn Cheesman or Simon Bond at CYAN for advice.??

?

The herd has grown!?

?We’re delighted to welcome Steve Parkinson to the herd. Like many of the herd he has years of directly relevant experience that he can call on to support businesses to grow and prepare for exit. Steve has over 35 years’ experience within SME businesses across the UK as a Director, General Manager, Shareholder, Owner, Consultant, Coach, Advisor.? ? Prior to working as a consultant, he was integral to the growth of a business from ￡5 million to ￡45 million and one to seven sites over 15 years. As a business growth advisor he has experience of turning around a company from administration to profitability within 18 months and then preparation for a successful exit achieved two years later.?

Steve talks through his experience and why he wanted to join elephants child in this video:?

??

This is our final Watering Hole of 2024, we hope that you have enjoyed reading them. If you have any content ideas for 2025 please get in touch. Message our page, or Martin Brown or Richard Murray .?

?

You can find a wide range of helpful articles on growing your business and preparing for exit on our website. https://elephants-child.co.uk/insights/??

?