In-depth analysis of what the recent Budget means for business owners

Labour’s first budget in 14 years brings challenges to SME owners??

Elephants Child CEO Martin Brown reacts to a disappointing budget for small business as owners weigh up the full impact of Rachel Reeves’ changes.? Here’s a recap of the key measures that will impact business owners and advice on what to do next. The herd have had many conversations with business owners over the last couple of weeks about what it means for their business and circumstances and we’re happy to do more. Post budget the impact is becoming clear, for example the farming community living with the chilling effect on survival and succession.?

Has the Budget affected the value of your business??

Many business owners are already grappling with the recent budget changes, including increases in minimum wage levels, National Insurance (NI) contributions, and Capital Gains Tax (CGT) on business sales. However, for those considering selling their business soon—or even those currently in the process—there’s a further consequence to consider that hasn’t made as many headlines: the value of your business may have just taken a significant hit.??

Read more about how and why this might have happened on our website

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Should I stay or should I go now???

A question many business owners will be asking themselves at the moment. Richard Murray looks at how businesses valued at under ￡1 million may be able to complete a sale by April 2025 and why now could be a golden opportunity for some businesses to focus on growth.? He stresses that for businesses worth over ￡1 million, the due diligence process and market timing make a successful sale before April unlikely. Smaller businesses might fare better with quicker transactions, but there’s no guarantee. But by considering an MBO other businesses may also be able to push for a sale before April 2025.? Full details on our website. ?

As always it’s about your individual business and circumstances so please get in touch with the herd for a free call to discuss your next move as a business owner.?

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Business Support Webinar?

With our partners at Ignition Law , we are planning a free webinar for business owners who have questions about the implications of the Budget. Full details coming soon. Follow our page to keep up to date or email [email protected] and ask to be sent details of the session.? If you have any questions in advance that you’d like us to cover, please message our page or Martin Brown .???