Increasing the value of your business

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Running Time: 8:57

Date: 01/05/2014

Want to increase the value of your business? Start treating it as an asset, not just a cash generator.

Many business owners view the value of their businesses by the state of their bank account. All well and good, says David Meggs of P&S Business Brokers. But if you want to maximise the value of your business, you need to view it as an asset rather than just a cash generator.  It's a different mindset. The business will still give you that important income, he says, but by becoming a saleable item, it will also increase your retirement fund.

So what do you then need to consider? David Meggs has a list of factors such as longevity, stability, consistent and recurrent income, a spread of clients, responsive accounts, and most importantly a strong culture with happy staff.