Hopkins and McGregors Corporate host successful business workshop

On 18th September we hosted an interactive workshop, alongside Chartered Accountants McGregors Corporate for business owners to understand how to maximise and retain their business value and profits.

During our workshop, local businesses from Mansfield were given an insight into the highs and lows of Hops & Co Brewery, a fictional business invented for the workshop to highlight how business owners can maximise and protect earnings, assets and business value.

Co-hosts Rob Siderfin and Philip Cudworth from McGregors explained how Hops & Co was founded by family members and what happened when a new ambitious salesperson wanted to expand into new markets, why their bank rejected requests for funding, and how an affair led to the business being valued to pay off the exiting shareholder who intended to set up a competing operation.

The workshop was extremely interactive and delegates shared their own experiences as Rob and Phil explained the basis of business valuation, business planning, how to structure shareholder agreements to avoid disputes, and adopting effective tax planning strategies to extract wealth.

In total six businesses were represented, including Kirby in Ashfield based metal railings and gates specialists Alpha Rail. Finance Director Mark Sipson commented, “Our business underwent a management buy-out twelve years ago and took expert advice on our business structure going forward. That said, I could certainly relate to all the issues the workshop covered as they occur all too often in many businesses who do not seek the right advice.”

For more information about future workshops, or for legal advice for you and your business, contact Rob Siderfin in Mansfield.