23 Oct 2020 7:31 AM

Has the lockdown given you added impetus for your business? Or has it forced you to see life from a different angle?

We are living in unusual times. Who would have thought that at the end of 2019 when Big Ben struck midnight life as we knew it would be so different in 2020?!

National lockdown and having time away from the day-to-day has given business owners and managers an opportunity to re-assess their targets and focus for the future.

For some it has meant they have had more time to catch-up on admin tasks or projects which had previously taken a back seat. Many business owners used the extra time to drill down on financials and other key performance indicators in greater detail. This additional focus has allowed them to see opportunities in their business or set goals for expansion.

Conversely, others have enjoyed their time away from day-to-day work stresses. This could be spending more time with their families or taking up hobbies - whether that be baking, learning a language or getting out onto the golf course. This glimpse into a different life has prompted many to reassess how they’d like to spend their time in the future. Indeed for some it may have refocused or set an end date for retirement or exiting the business, so they can enjoy the fruits of many years of hard work.

Although both perspectives are at different ends of the spectrum this presents business opportunities to both sides.

Businesses owners who previously may have been reticent to change or business exit, may now be more receptive to the idea. This means their focus is sharper and goals are likely to be shorter term to meet their newfound exit path goal.

Conversely, businesses may see opportunities in the market to expand their operations, for example by extending their geographic reach, developing new products or an acquisition to increase capacity and expertise. Businesses may be seeing opportunities coming out of the lockdown and need to secure the right kind of funding to enable them to see through their plans.

At Alliotts we can assist business owners to fulfil their ambitions. Our team of Corporate Finance specialists can guide owners looking to expand or obtain business funding but also those seeking an eventual exit strategy.

Contact our specialist team of corporate finance advisors to talk about your future plans.