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Business Risk Services
Our Business Risk Services team deliver practical and pragmatic solutions that support clients in growing and protecting the inherent value of their businesses.
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Corporate Finance and Deal Advisory
We offer a dedicated team of experienced individuals with a focus on successfully executing transactions for corporates and financial institutions. We offer an integrated approach, with our corporate finance specialists working seamlessly with tax and other specialists to ensure that every angle is covered.
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Economic Advisory
Our all-island Economics Advisory team combines expertise in economics and business with a wealth of experience across the public and private sectors.
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Forensic Accounting
We have a different way of doing business by delivering real insight through a combination of technical rigour, commercial experience and intuitive judgment. We take pride in delivering responsive and tailored solutions to all our clients, capitalising on the wealth of experience housed within our Belfast and wider Forensics team
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People and Change Consulting
The Grant Thornton People & Change Consulting practice works with clients on these issues as well as on all aspects of how they attract, retain, engage develop, deploy and lead their people.
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Restructuring
We work with a wide variety of clients and stakeholders such as high street banks, private equity funds, directors, government agencies and creditors to implement solutions which provide the best possible outcomes.
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Technology Consulting
Motivating and assisting our clients to pursue, maintain and secure the benefits of digital solutions is at the core of our Digital Transformation teams' agenda and goals. We work with business leaders to deliver efficient digital strategies and operating models that provide new or enhanced capabilities.
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Corporate and International Tax
Northern Ireland businesses face further challenges as they operate in the only part of the UK that has a land border with a country offering a lower tax rate.
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Employer Solutions
Our team specialises in remuneration and incentive planning and works closely with employers, shareholders and employees to ensure that business strategies are aligned and goals achieved in the most tax efficient, cost-effective manner.
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Entrepreneur and Private Client Taxes
Our team of experienced advisors are on hand to guide you through any decision or transaction ranging from the establishment of new business ventures, to realising value on exit, to succession planning and providing for loved ones.
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Global Mobility Services
Grant Thornton Ireland offer a different approach to managing global mobility. We have brought together specialists from our tax, global payroll, people and change and financial accounting teams across Ireland and Northern Ireland, while drawing on the knowledge and insights of our global network of over 143 offices of mobility professionals to provide you with a holistic approach to managing global mobility.
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Outsourced Payroll
Our outsourced service provides valued service to over 150 separate PAYE schemes. These ranging from 1 to 1000 employees, working for micro, SME and global employers. The service is supported by the integrated network of tax and global mobility teams and the wider Grant Thornton network delivering a seamless service. Experienced staff deliver a personal service built around your business needs.
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Tax Disputes and Investigations
Our Tax Disputes and Investigation team is made up of tax experts and former HMRC investigators who have years of experience in dealing with a variety of tax investigations. Our expertise and insight can guide you through all interactions, keeping your cost at a minimum while allowing you to continue with the day to day running of your business.
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VAT and Indirect Taxes
At Grant Thornton (NI) LLP, our team helps Northern Ireland businesses manage their UK and global indirect tax risks which, as transactional taxes, can quickly become big liabilities.
Maximise your Cash on Selling your Business
21 Apr 2020Many business owners don’t have the option of handing over to the next generation for many reasons. Some will have their business asset as a key part of their retirement pot. Others will feel that their children will not want or, in some cases, don’t have the ability to take the business to the next level. Statistics show that only about 30% of family businesses are successful in the second generation, whilst just over 10% continue successfully for a third generation.
Increasingly in Northern Ireland, we are seeing businesses with significant ‘external’ investors. To provide the necessary return for that investment there will (or should be) a proactive plan which will often involve the sale of the entire business in a five-year period.
Regardless of the motivation for sale, the most successful sale processes are those where a significant amount of forward planning has occurred, and actions taken well ahead of any disposal process. The old adage, ‘Fail to prepare and prepare to fail’ is also relevant for those selling their businesses.
Having personally led over 50 successful sales in the last few years, I have seen first-hand that there are a number of common themes which business owners should be considering now to enhance future disposal values.
As obvious as it sounds, make sure you approach the right strategic buyer. They will pay the best price for the business. You need to ensure you fully research the global market, as the most appropriate purchasers may very well be located outside Northern Ireland. In a recent transaction, bidders were sourced from China, Poland, Republic of Ireland and Great Britain. Specific targeted information to individual buyers is also required to best present the opportunity to them.
Reduce the dependence of the business on you. Buyers know that post-sale you are unlikely to be as motivated as you are now. They will be looking to those staying on to transition relationships, especially with customers, other staff and suppliers. These people should have been empowered and suitably incentivised pre-sale to help drive the business forward under the new ownership.
Don’t fixate on deal multiples, but focus on maximising sustainable profit. Ensure that there is sound visibility on future earnings by renewing profitable contracts. Critically assess your costs so that there is no deadweight in the business. Only approve capital expenditure that is critical to the ongoing operation of the business. Maximise cash by ensuring that you are not carrying excess stock and that you have a clean trade debtor book.
Obtain the correct financial and tax advice early. Choose a team that has the experience of successfully selling businesses. Your advisor should ensure that you continue to remain focused on the business whilst they do the heavy lifting with the deal. Owners can make the mistake of appointing a party that does little more that put your details on an advertising portal. You should expect, and indeed will need, more.
The disposal of a business is arguably the most important transaction that an owner will make. For most, this happens only once, so do all you can to get it right.
