The growing business handbook : inspiration and advice ... - Sparkler

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226 Structures for growth ●● ●● ●● Accounts must be prepared each year in accordance with the Companies Act 2006. The level of detail and whether there is a requirement for them to be audited will depend on the size and turnover of the company. Profits are usually distributed to shareholders in the form of dividends but the company can retain some of the profits as working capital. A company is liable to pay corporation tax on its profits and shareholders are liable to pay income tax on dividends. Special purpose companies will require bespoke Articles of Association and a detailed Shareholders’ Agreement. These documents will deal with issues such as the issue and transfer of shares, the rights and obligations of each shareholder and what will happen if one party decides that it no longer wishes to participate in the joint venture. Also, where a company is owned 50:50, deadlock provisions are advisable to avoid stalemate situations should the parties not be able to agree on a particular issue. Scenario 3 Emma runs a small dry cleaning service. Recently her business has been struggling because a number of rival businesses have been set up in the local area. Fresh & Clean Limited is a national chain of dry cleaners that have been looking to expand their presence in the region. Preferred option: Franchise Arrangement Fresh & Clean have an established business with a good reputation and a well-known brand. By franchising their business model, F&C increases its reputation and profitability by opening more branches, without assuming any of the risk of setting up a new business. As franchisee, Emma will be licensed to use F&C’s intellectual property and their format and will benefit from F&C’s goodwill and reputation. She will also have a stronger bargaining position with suppliers. Things to consider: Franchise arrangement ●● ●● ●● An excellent way to take advantage of an already successful business model. A franchisee can operate their franchise as a sole trader, a partnership or a limited company depending on the size and nature of the business involved. A franchisee must pay a percentage of its profits to the franchisor each year before any benefit goes to shareholders or partners. It will always be necessary to have a Franchise Agreement. It will dictate exactly what rights are being licensed to the franchisee and will ensure that the integrity and reputation of the brand are protected. It will also set out what percentage of profits will be paid by the franchisee to the franchisor. Again, exit and termination provisions
Partnerships and collaborations 227 will be important and should be understood fully by both parties before a formal agreement is signed. Partnerships and collaborations are becoming an increasingly popular way for businesses to grow and expand. During times of economic uncertainty it can be advantageous to join forces with a similar-minded business to ride out the difficult times and in times of recovery, new business ventures can flourish. Whatever your situation, it is advisable to seek both legal and financial advice early in the process. Goodman Derrick LLP has the expertise to provide you with advice and guidance on all available business structures and in turn could help you to make the most out of your business. Please note, this chapter is for general information and interest only and should not be relied upon as giving specific legal advice. Rebecca Gardner is an assistant solicitor in corporate department at Goodman Derrick LLP in London. Goodman Derrick is a dynamic law firm with a broadly based commercial practice, representing both UK and international clients. The firm has developed an acknowledged expertise in the areas of media law, corporate and commercial law, litigation, property, employment and private client. Rebecca can be contacted by telephone: 0207 404 0606; or by e-mail: rgardner@gdlaw.co.uk. For further information about the firm, please visit their website: www.gdlaw.co.uk.
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i THIRTEENTH EDITION THE GROWING BU
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iii The perfect property for your
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v Contents Part One Planning for gr
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Contents vii Patenting costs 49 Wha
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Contents ix Part Four People and pe
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Contents xi 6.3 How to find your id
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Contents xiii 9.3 Licensing 233 Ton
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Part One Planning for growth 1
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3 Business models and competitive a
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Business models and competitive adv
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Business models and competitive adv
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Take a look at the map of our campu
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11 How to compete against fastmovin
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How to compete against fast-moving,
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How to compete against fast-moving,
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17 How to build a growth plan 1.3 A
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How to build a growth plan 19 Next
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How to build a growth plan 21 Opera
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23 The SME economic outlook 1.4 Gra
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The SME economic outlook 25 ●●
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27 The growth opportunity 1.5 Manuf
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The growth opportunity 29 To make t
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31 Managing setbacks and turnaround
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Managing setbacks and turnarounds 3
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Managing setbacks and turnarounds 3
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Part Two Ideas and innovation 37
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39 Whole company innovation 2.1 Inn
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Whole company innovation 41 of a pr
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Whole company innovation 43 create
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Whole company innovation 45 Incenti
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47 Innovating out of recession 2.2
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Innovating out of recession 49 expe
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Innovating out of recession 51 Jacq
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53 Exploring patent information 2.3
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Exploring patent information 55 ●
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Exploring patent information 57 Mr
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59 IP challenges for technology ven
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IP challenges for technology ventur
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IP challenges for technology ventur
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65 Making open innovation work 2.5
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Making open innovation work 67 the
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Making open innovation work 69 an i
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Part Three Gaining market share 71
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73 Taking your brand to the next le
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Taking your brand to the next level
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77 With over 1,000 titles in printe
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79 Market intelligence 3.2 Nick Hag
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Market intelligence 81 table 3.2.1
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Market intelligence 83 but also tha
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85 Web marketing 3.3 What’s the p
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Web marketing 87 considerable amoun
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89 Winning new business 3.4 In a do
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Winning new business 91 back away),
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93 Brand rights 3.5 Name? Logo? Dom
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Brand rights 95 trade mark attorney
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97 With over 42 years of publishing
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99 Fit for market 3.6 Confidence is
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Fit for market 101 markets abroad a
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Part Four People and performance 10
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105 Rewarding good performance and
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Rewarding good performance, lowerin
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109 With over 1,000 titles in print
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111 Employment policies 4.2 Belinda
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Employment policies 113 information
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Employment policies 115 Belinda Cop
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117 Taking on an employee 4.3 Help
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Taking on an employee 119 employee
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121 The sharpest minds need the fin
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123 Training for growth 4.4 David G
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Training for growth 125 of the trai
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127 With over 1,000 titles in print
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129 Executive search for smaller bu
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Executive search for smaller busine
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133 Improving workplace performance
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Improving workplace performance 135
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Part Five Cash flow and working cap
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139 ÒThe message is clear - we wan
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141 Cash flow management: an essent
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Cash flow management 143 3 Keep a c
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145 With over 42 years of publishin
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147 Invoice finance for growth 5.2
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Invoice finance for growth 149 the
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Invoice finance for growth 151 ●
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153 Preventing slow payments 5.3 Do
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Preventing slow payments 155 some l
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Preventing slow payments 157 Graydo
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159 Commercial fraud and business i
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Commercial fraud and business ident
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Part Six Efficient SMEs 163
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165 Build the network 6.1 As you gr
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Build the network 167 essential net
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169 The sharpest minds need the fin
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171 Strategic sourcing 6.2 Plan to
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Strategic sourcing 173 So, how and
Page 189 and 190: 175 How to find your ideal office 6
Page 191 and 192: How to find your ideal office 177 a
Page 193 and 194: Part Seven Leading growth 179
Page 195 and 196: 181 How small business owners can b
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Page 201 and 202: 187 Developing the next layer of ma
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Page 205 and 206: 191 The leadership process 7.3 With
Page 207 and 208: The leadership process 193 Although
Page 209 and 210: 195 With over 1,000 titles in print
Page 211 and 212: 197 Ethics and the growing company
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Page 217 and 218: Part Eight International expansion
Page 219 and 220: 205 Competing and collaborating wit
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Page 227 and 228: 213 International expansion made ea
Page 229 and 230: International expansion made easy 2
Page 231 and 232: 217 The export challenge 8.3 As a g
Page 233 and 234: The export challenge 219 Market Acc
Page 235 and 236: Part Nine Structures for growth 221
Page 237 and 238: 223 Partnerships and collaborations
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Page 243 and 244: 229 Acquisitions that work 9.2 Stra
Page 245 and 246: Acquisitions that work 231 Issue 4
Page 247 and 248: 233 Licensing 9.3 In finding the be
Page 249 and 250: Licensing 235 ●● ●● ●●
Page 251 and 252: 237 With over 42 years of publishin
Page 253 and 254: 239 Preparing a business for sale 9
Page 255 and 256: Preparing a business for sale 241 g
Page 257 and 258: Preparing a business for sale 243 L
Page 259 and 260: Preparing a business for sale 245 C
Page 261 and 262: Part Ten Growth capital 247
Page 263 and 264: 249 Funding your business through t
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Page 267 and 268: 253 The sharpest minds need the fin
Page 269 and 270: 255 Structured finance 10.2 Structu
Page 271 and 272: Structured finance 257 Factoring or
Page 273 and 274: 259 Transforming the finance functi
Page 275 and 276: Transforming the finance function 2
Page 277 and 278: Transforming the finance function 2
Page 279 and 280: 265 Index of advertisers A.Steele A
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