How to calculate the value of your business (so you can protect it)

At Tyrrell and Company, we’ve worked on valuations for many of our clients. It’s an important part of planning a growth strategy or the end sale of the business, so getting as accurate a valuation as possible is always the end aim.

And, in our experience, there are four basic criteria that have an impact on the end value of a business

When you hate using your hard-earned money to pay the accountant

If you see your advisers once a quarter – or worse still, once a year – then you don’t have the right kind of depth to your advisory relationship.

You need more frequent contact and a more productive working relationship with your accountant. By meeting and talking regularly makes a big difference between a ‘traditional accountant’ and a ‘modern cloud-based accountant’ – a good, 21st-century accountant is a trusted business adviser, not a dull bookkeeper.

Turning around a struggling business: and making it a profitable one

Too many businesses survive with one eye on their bank balance and another on an ever-growing pile of bills to pay. They survive, day to day, but there’s no stability, no profit and definitely no foundation for growth. And this kind of short-termism can be fatal for a number of reasons:

Are you prepared for a costly tax investigation into your business?

Cracking down on tax avoidance has become a clear focus for HM Revenue & Customs (HMRC) in recent years. And with the creation of 27 new HMRC taskforces for specific industry sectors, the chances of your business going through the process of a detailed tax investigation are higher than ever.

7 reasons you need a good IFA

We’ve all heard the term ‘Making your money work harder’. And that’s exactly what a good independent financial adviser (IFA) does for you. At Tyrrell & Company, the IFAs in our Wealth Management team have a clear focus on helping you and your business make the right funding and investment choices.