Spring Clean Your Business

Insights by Robert Fiske.

At time of writing we appear to be in a prolonged period of glorious sunny weather. Spring has truly sprung! Although the concept of the ‘spring clean’ has largely subsided from modern living, it is not a bad idea to think of it in the context of your business… especially if you are minded to sell at some point. There are certain ‘hygiene’ factors that if appropriately attended to will improve your ability to sell and may even add value. Things to look at include ensuring you know where all your contracts are and that they are up to date (this includes leases, employees, suppliers, customers). We find that other things are frequently overlooked too, such as the statutory registers (AKA the company books). Some even look blankly at us when we ask if they are up to date… or even exist!

Due out in May is our next SITS sector M&A report comparing 2024 activity to the previous year. It will also include the results of a questionnaire we are running. If you own a Software or IT Services business, please do help us out by completing this short anonymous survey: https://s.surveyplanet.com/5scxrrmc. To reserve your free copy of the report please email [email protected].

Next, we are continuing our “Where Are They Now?” series with a look at what another former Prism client has been up to since we sold his businesses a couple of years ago. Jonanthan Ralphs, founder and former owner of Infomill Ltd, sold his software business at the end of 2022 but has stayed working there full-time as the CEO. Now, two years on, he’s reflecting on his experiences post-sale, what it’s been like becoming part of a large group and how he’s coping with not being the big boss anymore!

See Article: Where Are They Now? Jonathan Ralphs