Hi Angus, thank you for your glowing feedback. We are happy to hear that you have identified us as a reference point for the future! Have you thought about starting your own company?

Thank you, James! We are glad that you are as excited as we are for our next edition of Whiteboard Thursday, stay tuned! Have you got any particular requests for next time?

Thank you for your comments, Kreisi! Our aim is to make this as easy as possible for you. Have you considered setting up your own company?

Thank you for your feedback, Abbie! Did you learn anything new today?

You are very welcome, Christopher. What have you learnt that you were unaware of before?

Thank you for your glowing feedback, Jodie! Have you a particular favorite?

You are most welcome, John. Thank you for highlighting this point, it is often a dull task, and low motivation is a factor that contributes to the longevity of the task. We can assist you with our Full Company Secretarial service and take the stress out of your hands! Please see here for more information: www.1stformations.co.uk/full-company-secretary/ Have you been directly involved in a handover before?

Thank you, Scarlett. We are happy that we have enabled you with the confidence to take the next step. What was the ultimate driving force behind your decision to sell your company?

Did you?

You are welcome, Jen! Have you considered selling your own company?

It isn't. It's exactly the opposite.

You are welcome, Denzel! What were your main takeaways from the video today?

Make sure to demonstrate a strong financial performance over the last 2-3 years if you are seriously considering selling your companies Peter. Do you currently have a Limited company set up?

Thank you so much for your wonderful feedback, you are most welcome! Have you got any special requests for Nick to cover next week?

@@1stformations I'd love to hear more about the process of valuing a company, and where you would find a consultant to work with on that.

What a great suggestion, thank you - we will look into covering this topic for sure! Have you got a Limited company set up?

@@1stformations I don't have a company, just an interested nerd 🤓😄

@@thebeardedshogun It's great that not only company owners are interested in these important but not widely understood topics. Have you had a look at some of our other videos?

We are delighted to hear your feedback, Kimberley. Have you got a favourite Whiteboard Thursday Edition?

You are most welcome, Rakhee. What parts did you find useful?

We are glad you enjoyed it, Laura. Have you got any questions for us?

Thank you for your wonderful feedback, Saba! Are you looking to sell or buy a company at all?

Thank you, Ed! Have you seen the rest of our videos on our channel?

What a great question Amelia- you can use the form VAT68 to ask HM Revenue and Customs to transfer the VAT registration of a company changing ownership. Are you currently transferring ownership of your company to a new owner?

Thanks for your message, Robert. What type of broker are you?

@@1stformations Hi, I'm a business broker at Turner Butler and I manage the sale of private companies on behalf of their owners in the UK.

@@robertedwards3551 Fantastic, thanks for the reply. Do you see a mark up for businesses which have strong recurring revenue?

@@1stformations This question lies at the heart of a key misunderstanding in the valuation & sale of privately owned companies - valuation is not the same thing as price. In order to sell a business successfully you have to be aware of how buyers buy. There are three types of buyer and each has quite distinct motivations and methods. Recurring revenues matter in certain businesses such as those that are subscription based but these have amended their long term subscriber requirement to much shorter term models as a means of competing, since price has long ago reached its nadir. Other businesses such as a road sweeping business that I am currently selling, has commercial contracts with large scale property development companies and framework agreements with Councils but these are always time-bound and subject to change. This business makes EBITDA circa £460,000 and is under negotiation at £1.6M with net assets in addition and this could easily revise downward to £1.2M + NA. Nearly every small business is founded and persists because they have a core client/customer base that could be said to be responsible for its recurring revenues but this does not reduce the risk attached to acquisition capital since all capital models will perceive all small firms as intrinsically risky. There's so much in this small part of the process as a subject that IU should write a book just abaut valuation & price.

@@robertedwards3551 It does seem like you could write a book on the subject, Robert. Great stuff. Have you never thought of seriously considering doing so?

Thank you for the great question Keziah! There must be 1 human director in the company at all times, so if you are the sole director in the company, you must appoint a new director first. Were you thinking of resigning as director of a company?