Member Since: 19th Feb 2016
After doing an undergrad degree in accounting (India) and reading for an MBA in finance (USA) - in addition to taking professional exams in Cost & Works accounting and in Banking - I decided that this is all too complicated. So I spent 35 years buying and selling small businesses, and running them.
My full time occupation now is UK Business Brokers where I assist lower mid market businesses (generally £2m - £50m in t/o) navigate their way to an equity event. I act as a first stop advisory on strategy and help business owners find the right business broker, M&A / corporate finance firm or boutique investment bank to fit their individual needs & exit goals - from MBO to IPO. It's a minefield out there!
I maintain the UK's only database / knowledge base on all the talent in this industry - sector specialisations, fees, fee structures, FCA status, cross border transaction experience, awards won, feedback and reputation ...all sorts!
I'm well connected in the world of corporate finance / investment banking / corporate law, and I love introducing people. Let me know if I can open any doors for you or answer any questions you have about my world.
Consultant UK Business Brokers
30th Dec 2019
Thanks, but that looks like a company formation service, nothing to do with what I described. I've no idea how that will get me balance sheet data imported into a spreadsheet. Am I missing something?
30th Dec 2019
I did start off thinking I'll hire someone to write the code to extract data from iXBRLs and put it into a spreadsheet. But looking at places like Freelancer etc there doesn't seem to be anyone with the requisite skills! Forget iXBRL - just search for XBRL and you'll get nothing.
I intend to use the data to create graphs / charts for publication on a niche website. There'll be about 500-1000 Ltd companies and LLPs I'll be tracking.
30th Dec 2019
Thank you for your reply. I'm subscribed to that service for a select few companies and I get email notifications.
Unfortunately, that's not scalable. I need to track several hundred companies.
I appreciate that a dedicated email address could be setup for these notifications and an ITTT rule or other automation could trigger, on receipt of a notification email, the software going to CH and downloading the file (if it's an iXBRL rather than a PDF about a director resignation). That bit's easy.
My big issue is with the parsing.
28th Dec 2019
There are many brokers specialised in the sale of practices.
You might find my replies in the below thread useful:
3rd Dec 2019
Please see my reply to WhichTyler above covering the Code of Conduct.
With respect the directory, *everyone* will be featured. Every firm will have their own page. The ones with relevant qualifications, regulatory approvals, who are members of professional bodies etc., will have the option of paying an admin fee to have their credentials checked and then be allowed to display those credentials on their page.
A points system could be designed to decide order of ranking / presentation.
I did consider using as an input client reviews from a Trustpilot type review section. Review scores could play a part in any algorithmic sorting, but I've decided that reviews are too prone to manipulation. I might however include industry awards in any analysis (though I must admit some of these "awards", too, do seem a tad suspicious).
What would you suggest as good inputs to be considered in any algo sorting?
3rd Dec 2019
All of the above, I suppose.
The first benefit for members is finding clients. There is no national directory, no single source of information on who does what. I've been making a full time living these past few years filling that gap.
My new project will result in making it easier for people who need specific services to find the appropriate expertise, whether it's on exit planning, valuation, deal sourcing or drafting an SPA.
The second is reputation. Business brokers have a bad rap and that's because of a few bad players. I already have a code of conduct drafted, in consultation with people who have crafted such policies in the US and elsewhere. Member firms who sign up to the code will be recognised ...your 'kitemark' if you like.
At some point, yes, I'd like to see some regulation. CF firms stuffed to the gills with qualified accountants and regulated by the FCA are currently competing with all kinds of unregulated, fly-by-night business brokers providing "professional valuations" and taking large advance fees for doing little to no work.
With respect spending the lavish fees I charge, I'll struggle through that myself without any external help, but I'll let you know if I get stuck.
3rd Dec 2019
Was he operating as a limited company and does she have the option of selling the shares?
30th Nov 2019
As others have said, it's a simple matter of transferring the shares from the current shareholders to the old company, and it's a simple transaction in the books of old company.
I know you said that this is a new company, but has it done any trading at all and does it have anything on the balance sheet apart from the £1?
26th Nov 2019
Why did your client not leave the money in the account and have the buyer withdraw it and forward to him as part of the purchase price?
Surely that would be the treatment if he wanted to avail of ER.
Making the accounting entries to deal with this falls on the buyer, not the seller, as it happens post completion.
So what are you going to do now? Treat the £70K as a director loan that was settled at completion?
26th Nov 2019
I posted in another thread some names of brokers who specialise in the buying/selling of accountancy practices:
There are two types of vendors: those on the market and those who are not.
The ones on the market will be with a broker or listed independently on a business for sale portal. I've got a comprehensive list of marketplaces here:
The ones not already on the market need to be identified and approached individually. You can either do that yourself or hire a buy-side broker or deal sourcer to do the leg work. Expect to pay a large retainer or a monthly fee for anyone half decent.
It costs money to find the right deal. Unfortunately, too many people looking to buy a business don't realise that. They're like, er, the small business owner who thinks he can do his own company accounts because, well, how difficult can it be? ;)