Member Blog

It is a sad fact that a growing number of faith communities have come under attack in the US, and around the world, in recent years. The news has been full of high-profile cases. The 2019 Sri Lanka Easter bombings which targeted a number of churches, the attacks at two mosques in New Zealand in 2019 and the 2018 attack on a synagogue in Pennsylvania are some of the most shocking examples. But smaller scale hate crimes and other security threats are happening on an increasingly regular basis.

There are a number of unique vulnerabilities that churches, synagogues, mosques and other religious institutions share which make them a target for terrorists. Their very symbolism attracts hate crimes, and in rare cases active shooters. But there are a number of other factors which increase their vulnerability to attack:

• A perceived lack of security
• Use of volunteers
• Front doors remaining unlocked to welcome all
• Buildings left empty for days at a time
• Large crowds gathering, particularly during religious holidays and holy days
• Meeting times which are well-publicised and available to all
• Vulnerable congregations with children and the elderly
• Some also function as tourist attractions, welcoming a wide variety of visitors.

However, terrorism and hate crime aren’t the only potential security threats which religious institutions may face. Vandalism, theft and assault also make the list.

What is being done about it in the US?

FBI hate crime statistics show that incidents in churches, synagogues, temples and mosques in the US increased 34.8% between 2014 and 2018, the last year for which FBI data is available. The data is definitive enough that key organisations are taking notice.

The Faith-Based Information Sharing and Analysis Organization (FB-ISAO) provides threat assessments and risk-mitigation strategies to communities of all faiths and denominations. They have a range of resources and services available to support faith-based organisations address their security concerns.

In June 2019, the FBI invited faith leaders to a roundtable discussion about how to protect themselves and their congregants from bias-based attacks.

This focus highlights that there is a very real security challenge. All religious institutions, regardless of denomination, must take steps to minimise the risk of terrorism, crime and workplace violence.

Improving security in religious institutions

To ensure the safety of their congregations, religious institutions need to have an integrated security plan including three main elements: prevention, preparation and response.

Prevention

One of the first steps is to understand the threat and identify vulnerable situations.

Strengthening community relationships can play an important part in building up a picture locally. Engagement should take place within a wider social engagement context. Outreach groups such as interfaith councils can help with this, as can interacting with local law enforcement and first responders.

It is important to increase awareness of suspicious activity indicators amongst all those who play a role within the institution. Consider training with religious groups and leaders and first responders to promote a common understanding of the indicators of radicalisation and mobilisation of violence. Those who are most frequently greeting the congregation, for example, could be trained to look out for suspicious activity and encouraged to interact with anyone they don’t recognise.

Ask your congregation and the wider community to be the eyes and ears of security. The more people watching out for any warning and suspicious activity, the better.

The welcoming and open nature of such institutions is often at odds with the levels of security required to meet high threat levels. One of the main challenges is to make sure any steps taken security-wise do not alienate potential newcomers or create a culture of fear and suspicion.

Reducing the risk of crimes of opportunity can be achieved by simply locking the doors at night, but it’s important to weigh this up against the need to be open to all. Another option is to remove and secure places where money and valuables are stored.

Preparation

The integration of design and use of technology can decrease the risk of an incident escalating. Collaborate with security and design professionals to assess your options.

Structural improvements to security may be limited by your location. Many older buildings don’t comply with modern security standards and significant improvement (such as blast protection) may not be an option.

Limited budgets faced by many also pose a particularly tough security challenge. However, there are some simple steps which should be accessible to all. Security cameras, for instance, can act as a deterrent against theft or help highlight any suspicious activity.

Panic buttons, like our Little Green Button, can also provide a cost-effective solution to help quickly raise an alarm or call for help when a difficult situation arises. With options for desktop-based software, a mobile app, or a physical big green button, the simple act of being able to summon backup can help diffuse a situation. It can also offer peace of mind to faith leaders and volunteers alike that they are not on their own.

Review emergency and evacuation procedures and consider conducting a drill. The effectiveness of an emergency response may depend on the ability to evacuate a large crowd quickly and safely.

Response

Building relationships with local law enforcement and first responders and planning responses to certain scenarios will help ensure everyone knows what to do should the worst happen.

You could consider active shooter training for all regular congregants if you have identified this as a threat. Training like this was identified as one of the reasons that the number of victims at the tragic Pittsburgh synagogue shooting was not higher.

The overriding message is a simple one: be ready. Acknowledging the risk and making preparations could make all the difference.

Receptionists are often the unsung heroes of the workplace. As well as being the first person many visitors will see – and therefore responsible for creating that all-valuable “positive first impression” – they may have a raft of other duties to perform.

But one often overlooked element of a receptionist’s job is that of the first line of defence. The gatekeeper. They play a key role in keeping the workplace safe for everyone in it. They have to be ready to handle whatever situation may walk through the door. Their vigilance and ability to respond could mean the difference between a minor disruption and a significant incident.

The risk to receptionists will clearly vary depending on the industry and company they work for. For example, workplaces that handle money, or those dealing with visitors in high stress situations such as doctor’s surgeries and hospitals, may present more obvious risks. But receptionists at any business where members of the public can walk through the door risk physical and verbal assaults, threats and intimidation, as well as the potential for being faced with a medical emergency, on a daily basis.

There are a number of measures which could be considered to help minimise these risks and give the receptionist themselves the confidence that they have the tools they need to handle any incident.

Assess the space

Every business should conduct a thorough risk assessment of their reception area on a regular basis. Take a good hard look at the space and eliminate any physical security gaps. If you haven’t already, consider whether it is appropriate and possible to install CCTV. Arranging the space with security in mind is a key first step in keeping your building and people safe. 

Rethink the receptionist’s duties

A receptionist’s role will vary depending on how many visitors are likely to pass through their doors. However, it’s quite common for them to field all incoming calls and sign for packages coming into the building too. Take a moment to step back and reconsider whether these functions are best performed by your receptionist.

For example, does your receptionist have training on spotting suspicious packages? Could a risk be reduced here by getting them delivered elsewhere in the building?

If they are constantly on the phone, are they really able to give an appropriate level of attention as to who is coming and going?

It’s important that a receptionist’s duties do not take them away from the reception area leaving it unmonitored. 

Review the processes

Do you have a clear visitor policy? If not, it’s time you put one in place. It’s important that your receptionist is clear on the policy and applies it religiously for all visitors. Applying the same rules to everyone sends a clear message that you take security seriously.

Getting visitors to sign in is a must so you know who is in the building in case of an emergency, but you can step security up a further notch by asking for ID or taking a photo.

As well as a visitor policy, you should have a clear emergency response procedure that all members of staff are familiar with. Your receptionist may have a very specific role to play in this response – alerting the emergency services, for example. Make sure they are 100% confident that they can do what’s required of them. 

Improve the receptionist’s safety

One of the most important steps to take is to make sure that your receptionist receives proper training in how to identify potential security threats. This should include spotting the signs of emerging aggression. They also need to learn how to diffuse a difficult situation.

Even with these skills, there may be some situations they’re simply not able to handle on their own. Do they have a means to summon help quickly and effectively without leaving their post?

There are several ways this can be done, but choosing the right route can be critical in managing a situation. For example, often an aggravated person just wants to know they’re being listened to. Having a way that the receptionist can continue to listen attentively whilst subtly summoning help could make the difference between keeping a situation contained or sparking an even more violent reaction.

A panic button like our Little Green Button can be the ideal solution. The receptionist does not need to leave their post to call for help from a colleague. They can use it without worrying that they’re overreacting, even if they’re just feeling a little uncomfortable. No one should feel like that at work. Having a colleague appear in reception without any fanfare is often enough to diffuse a difficult situation.

So, recognising that receptionists play a crucial role in security of your business, make sure they have the tools at their disposal to perform this duty effectively.

Earlier this month in the United States, the Florida Senate approved a measure that would mandate that a mobile panic alarm system must be installed in all schools throughout the state. This progress in Florida follows hot on the heels of New Jersey – the first state to pass “Alyssa’s Law” back in June 2019.

What is Alyssa’s Law?

The creation of Alyssa’s Law was prompted by the tragic 2018 mass shooting at Marjory Stoneman Douglas High School in Florida which left 17 dead and 15 injured. Long and heartfelt campaigning by Lori Alhadeff who lost her 14-year-old daughter, Alyssa, during the shooting is beginning to pay off. As well as New Jersey and Florida, New York and Nebraska are working on similar bills.

Alyssa’s Law requires each public and charter school to have a silent mobile panic alarm system, linked to law enforcement, for life-threatening emergency situations. School employees must be able to activate the alarm from any building or location on campus.

The aim of the Law is to provide the fastest possible response during a so-called code red event. In an emergency situation, every second counts. If an alert could have reached all teachers during the Marjory Stoneman Douglas High School incident, teachers may have had time to respond properly and take measures to keep more students out of the line of fire.

Petitions have been started to ensure that Alyssa’s Law gets passed at a national level. It has inspired the School Violence Prevention and Mitigation Act of 2019 (HR3665) which was introduced to congress in July 2019. Whilst still at the first stage of the lengthy legislative process, this demonstrates just how powerful the US believes this measure could be. With that in mind, is it time that other countries followed their lead and, at the very least, encouraged schools to prioritise the implementation of panic button technology?

How does a school panic button system work?

Managing health and safety in schools can be a difficult task. But against a backdrop of rising levels of classroom violence, accidents and emergency incidents worldwide, those in the education sector have been looking to other industries for solutions. Panic buttons, which have been commonly used in banks and other customer-facing businesses for many years, are definitely on the agenda

The aim of a panic button is to improve the outcome of any emergency by enabling faster responses and better communication. This could be a health-related emergency, a terrorist incident, violence against a teacher, or a fire.

The amount of time it takes to report and respond to an emergency incident can mean the difference between life and death. A panic button system can accelerate both internal and external response, lessening the time between an incident occurring and help arriving.

Some schools have old, rather rudimentary systems in place, such as coded bell rings. However, these are flawed – they don’t give enough information and, critically, they are far from silent, alerting any potential intruder that action has been taken and risking an escalation of the situation.

Old fashioned fixed panic button systems may be in place in some schools. The clear drawback with this is that someone needs to be in the right place to be able to trigger the alarm. This is not always possible – on a sports field, for example, where the chances of a medical emergency or accident are higher. Some traditional systems are linked to direct response from police. Not every incident warrants police response. An additional member of staff appearing can be enough to diffuse more minor situations.

Modern panic button technology has addressed these issues and is relatively inexpensive to implement. Panic button apps can be activated quickly by authorised personnel from any location via their smart device. This will send out simultaneous alerts to staff, administrators and, where appropriate, the emergency services. Many systems will allow alerts to be sent to specific groups of staff, such as those who are first aid trained.

However, relying solely on an app might not be the right solution either – lost or left behind phones and flat batteries are all realities. Some systems integrate with a desktop system too, or even a physical button, that may be more appropriate for the school receptionist who will be able to unobtrusively trigger an alert if they feel threatened.

The existence of a modern panic button system within a school is a simple way to help protect students and staff on a daily basis, making them all feel safer and better able to respond in an emergency situation. This can have a positive knock-on effect of improving overall wellbeing across the board.

Choosing the right panic button system for your school

The Florida bill initially required that all school districts use a specific mobile panic alarm system to be selected by the state. However, some questioned the one-size-fits-all approach. Whilst their Department of Education will still solicit a contract for a single system that districts may implement, district officials are free to select an alternative system if they feel it will work better for their region.

The key things to look out for when choosing your system is that it is scalable and suits your needs. For example, are you happy with mobile only, or would it be helpful to have desktop system too?

Our other top tip is to ensure that your system includes free software/app updates so you don’t get stuck with an outdated system. Technology moves on quickly and you don’t want to get left behind when lives are potentially at stake.

The most important thing is to take action now. It’s no good wishing you had a system once an incident has already occurred.

Why not speak to a member of our team? We’ve plenty of experience in the education setting – take a look at a case study here. 

In a bid to keep the UK economy moving during the coronavirus pandemic, staff are gradually being encouraged to return to work when it is safe to do so. But it will be some time before things can be deemed “normal” again. In the meantime, we will all have to adapt to new ways of working.

For some businesses, this may mean an increase in the number of people working on their own, be that from home, in the office, or during site or client visits. The fewer people everyone is coming into contact with at the moment, the better.

Whilst this move may be a sensible one in terms of limiting the spread of the virus, it may inadvertently increase other risks to staff. For example:

• What if a member of staff is taken ill or has an accident whilst they are on their own?
• What if they face a threat from someone they are visiting when there is no one else around?
• What if they are the only person in the reception area when there is a problem?

As an employer, it is your responsibility to assess these risks and put measures in place to minimise them.

Tips for keeping your lone workers safe Provide appropriate training

Putting in place the right support and training is key. Ensure your staff are able to identify situations which pose a potential risk. Providing training in conflict resolution may also prove helpful. Staff will feel more confident that they have the skills needed to help de-escalate a tricky situation before it becomes a dangerous one.

Prepare for medical emergencies

Be sure that your staff have the knowledge and equipment to deal with a first aid emergency. There’s plenty of first aid training available which can be delivered from an appropriate distance, or virtually. Provide any relevant staff with a first aid kit to have close to them at all times. Implement a clear and simple emergency procedure so all lone workers know who to call, and in which order, during any medical emergency.

Keep in regular contact

Stress is a very real risk for lone workers who may be working long hours in difficult conditions. It’s important that they feel supported by their employer. Keep in regular direct contact so they know you have their interest at heart, and so they have someone to talk to. Look out for any signs of stress and be prepared to take action to address this.

Share your schedules

At the beginning of each working day, ensure you have a schedule of any lone worker’s day, so you know where they are likely to be at any time. Share your schedule with them too, if relevant. Depending on their role and the risks involved, you could ask lone workers to check in at regular points throughout the day, even it is a simple email or text message to let you know they’re OK.

Invest in a mobile panic alarm system suitable for lone workers

One simple way to provide lone workers with an additional level of protection is by investing in a mobile or app-linked panic alarm system. They’re relatively low cost and easy to implement, and give lone workers confidence that they have a quick and effective way to call for help if they need it.

The Little Green Button mobile app includes location tracking, and the ability for the user to alert colleagues that they need help by simply pressing a button on their phone or tablet.

Colleagues will be alerted by either vibration, sound or both, giving them the opportunity to then attempt to call the distressed lone worker for more information and to provide assistance, or head directly to their location.

Get prepared for lone working now

The most important thing is to take action now so your staff feel prepared whenever they return to work. It’s no good waiting until an incident has occurred before acknowledging the fact that staff facing these new challenges need additional support.

If you’d like to find out more about the Little Green Button app, speak to a member of our team today.

Tendering is where you tell a group of companies what it is you want to buy, and they tell you about the products and services they offer, their price and their terms.

The competition of bidding for something can improve the prices you’re offered. Tendering can also be used to consolidate a group of items, such as PPE or stationery, into one defined price list.

Here are the steps for conducting a tender to save money.

Define the need

It’s crucial to have a clear idea of what is needed and communicate this well to the suppliers.

A specification can include anything that will be useful for the supplier, so you can write it up, or add drawings, or have plans of your buildings, or photos of where products will go.

Allowing the supplier to come back with alternative ideas can open you up to new innovations or services, too.

Deciding Who’s Best

When you receive the responses back from suppliers, you need a way to choose who is the best fit. This is called the ‘scoring criteria.’

Things you could score are:

• Previous performance
• Quality
• Lead time
• Sustainability measures
• Made in Britain
• Availability of technical support
• Price

The company must be a good fit for you to work with. It’s no good to be buying the best product if the company is really frustrating communicate with and they always deliver late.

Similarly, they should have similar values to you. If you’re telling your customer that you care about sustainability, then your suppliers are a great opportunity to further that agenda. 

It’s still important to know what the company needs and values before you go out to tender. This is because you want to limit the amount of times you go back to the supplier for extra information. Plus, you want to receive the goods or services that you really want, first time round.

Sending the Tender

When sending the tender to your potential suppliers, you can send:

• Your Terms and Conditions
• The specification
• Any drawings, plans or detailed information that’s required
• Contact details of who they should respond to
• A deadline for response!

Review Responses

The first step is to check that they include what you’ve asked for. Only you can judge it but ask yourself whether it fulfils the specification you put together. Is it the right quality product? Will the lead time match your requirements? Do they have the insurance levels, ISO standards or other certifications you need? Are there elements of their response that you’re not sure about?

Next, compare the prices. Are some way out? I often give suppliers the chance to review their response and double check that they included everything if they’re super cheap or haven’t overdone it if they’re really expensive. Other buyers will automatically exclude the most expensive and cheapest suppliers.

There are basically three criteria to check:

1. The quality and technical aspect
2. Whether you could work together. For example, with their lead times, order process and communication methods
3. The price

You can weigh up a supplier that is giving better quality against the cost – are you willing to pay that much extra for that quality? Only you can decide.

Agreeing The Contract

At this point you could just decide on a supplier, ring them up and tell them they’ve got the work. In the UK, verbal contracts are still binding. But they leave a lot of scope for misunderstanding and if something goes wrong you’ve got nothing to rely on in your argument.

Both sides need to understand what to expect and what their responsibilities are. Formalising the contract in writing means the supplier knows EXACTLY what they need to deliver, and you know when you’ll receive it and how much you need to pay.

There’s no set format for how a contract needs to be laid out. It could be as little as a one-page document stating that both parties agree to proceed as per the price list, until a fixed date.

Think of the contract as a pack of documents that someone could pick up in future and know exactly what’s involved, without needing to hear the history. It should have reference to the original specification you sent, the quote you received back and any clarifications that were made during the negotiation stage.

Contract Management

The purchase of something doesn’t end when you’ve signed the contract. You want to know that they deliver on time and that the goods or services are the right quality.

For ongoing needs, try and maintain a positive, useful relationship with the supplier. One of the ways to do this is to have a regular review meeting with them.  In this, both sides get to discuss performance, safety, communication. It’s also a great opportunity to discuss future cost saving measures!

Another way to manage the contract is to monitor the performance with metrics, if you have them. If you have a computer system that can analyse your POs and tell you when you get late deliveries, that can help a lot.

Other routine checks can include random price checks against the list of prices you agreed.

It’s always good to check with your own team members who are using the products or services, too. Your Warehouse team is best placed to tell you if all the products come in packaged well. And the first people who use the office in the morning can tell you what the cleaning standards are like.

It’s easier to pick up on the small problems as they occur than let them fester. It costs you a lot of time and energy to manage a poor-performing supplier than one that does everything right first time.

Right Back Where We Started

You might have realised that the diagram for the tender process was a circle. That’s because when you’re managing a contract, there comes a point when you need to check that you’re still buying the right products and services.

Your business goals might have changed, so you need to look at alternative ways to fulfil orders to your customers.

Be in control of defining what your business needs and how you fulfil those needs with your suppliers. Otherwise, your suppliers will end up defining it.

Take the initiative and continually improve.

If you want to learn more about tendering, give Beth a call on 07588 071975 or check out the full eGuide on How To Tender here: https://payhip.com/b/C0tl

Both captioning and transcription pertain to recording human speech in a way that is accurate to the original source material – whether that is a live speech, recorded word-by-word, or a pre-recorded video. Both represent different processes with different applications across a wide range of industries, although they can and do converge, and work in tandem to ensure authenticity for readers and listeners.

Captioning Explained

Captions are the time-sensitive segments of text we see on videos. Unlike subtitles, they convey speech through the same language that the speaker is using, and may be required for viewers who are hard of hearing, or instances where the audio is difficult to hear. They are, however, being utilised more and more among audiences with no hearing impairments.

In order for captions to be accurate, the words spoken by those in the video must be transcribed…

Transcription Explained

Transcription is, at its simplest, the processing of converting spoken word into written text.

While it forms the basis for captioning videos, transcription is utilised within a wide range of settings beyond video production. For instance, it is necessary during court proceedings, and within interviews, meetings and interrogations – to name just a few.

How are They Done?

While completing a transcription is an entirely different process to creating video captions, they are both incredibly time-consuming – particularly when it is essential that errors and misinterpretation are kept to a minimum.

For this reason, AI transcription and captioning by Verbit has proven to be an incredibly effective tool for improving both processes. By honing and utilising the ability for artificial intelligence to recognise and ‘understand’ human speech, transcriptions can be made in real-time, and reach more than 99% accuracy in just an hour. This is one key difference between the two processes – transcription must be performed as-and-when the participants are speaking, which places even more strain on human reporters and transcribers.

In the realm of captioning, the processes of transcription and timed implementation can be deployed in quick succession, and circumvent the hours it takes for human editors to align accurately recorded speech with the voices themselves. Incorrect captions can ruin even a well-made video, and significantly hinder any ROI a business hoped to gain from it.

For instance, ‘caption frames’ refer to the precise timeslots in which a piece of text should appear and disappear. Even a small discrepancy between the caption frame and the video itself could interrupt viewers’ enjoyment, and make it impossible for deaf or hard of hearing viewers to follow. This is one area where AI is able to achieve a higher degree of accuracy – the level necessary for producing watchable content that is accessible to all.

While transcription and captioning represent two different processes surrounding the depiction of human speech, the former is invariably required to ensure that the latter caters to all audience members.

Both, however, do stand to benefit greatly from the introduction of artificial intelligence into processes that have, until now, required a great deal of time – and placed significant demands on accuracy – in order to ensure that speech is always accurately conveyed.

It has been a tough year for many companies, from redundancies to furlough. However, looking ahead into 2021, Huxley Events want to help ensure you and your team are ready to start 2021 with a bang!

Following on from a successful end to 2020 helping inspire and engaging more than 40 companies, the experts at Huxley Events are offering even more organisation the opportunity to take part in everything from Virtually Killed (a crime scene investigation experience) to Personalities: You & Your Team development experience.

The experiences range from 1-3 hours and are the perfect way for teams to come together to start the new year stronger than ever. Being socially distant doesn’t mean you can’t come together.

Our Top 3 Reasons Why You Need Virtual Team Building in 2021

1. Reward your team! We know how hard people have been working, and how they have had to adapt both physically and mentally to the changes that have happened. Reward your team for their hard work with a fun, interactive activity guaranteed to be fun but also improve communication.
2. Improve team communication, cohesion and team work It might have been challenging for your team to communicate virtually. The huge range of activities we offer will suit teams of all shapes and sizes, giving teams the opportunity to come together in a unique and interesting way.  
3. Have fun together

Many people are missing the office activities, outings and social activities. Bring the fun to their homes with jolly experiences.

Virtually Killed is Huxley Events flagship team building experience, having been run with companies such as Slack and AirBnB.

The Highlights – Explore a virtual crime scene! – Break into teams, delve into case files and solve the crime – Designed by Ex-Scotland Yard Detectives – Examine fingerprints, blood spatters, DNA & Police Statements.

Immerse your team, push boundaries and open your eyes to the challenges faced by Detectives and Crime Scene Investigators. Killed, created by senior Ex-Detectives and forensic scientists, is the most immersive and thrilling experience there is. CEO Jonathan Buckley has been found murdered in his office… from fingerprinting, Police Statements, DNA and much more your teams will need to solve this crime and catch the perpetrator!

Huxley’s most booked team development experience for 2021 is Personalities: You & Your Team. Personality profiles & how to maximise your potential! There are so many benefits to not only companies but individuals who are striving to be excellent team players.

“The after-effects of unity and trust are priceless. The activities exceeded our requirements and it gave the team a more united feeling” – UKME

January 2021 is the perfect time to arrange an activity for you and your team. Get in touch with the team at Huxley Events to chat about how you can engage your team! 01953 308386 or email [email protected]

Whether you are buying or selling a small business, knowing what the business is worth is a fundamental requirement. And inevitably, the majority of the issues which are likely to arise during the sale transaction are in some way related to the valuation of the business.

So let’s take a look at the process from the perspectives of both buyer and seller.

Preparing to sell

Business experts believe it takes years rather than months to get a business ready for sale.

It’s never too soon to get the process under way. Preparing your business records, for example, is not just a matter of having all the documentation to hand.

Of course, that’s important, but what a prospective buyer will really want to see is an impressive financial track record alongside reliable projections indicating the company’s future prospects are good.

Selling your small business ‘on the up’ takes a lot of careful planning. For instance, you must be able to convince potential buyers that your company’s business performance does not hinge on your presence.

But don’t underestimate the task of putting a good team in place to achieve this. And likewise, you should never leave sale preparation until just before you retire, or even worse, until something forces you to sell in adverse circumstances.

Getting a sale valuation

It can be hard for a business owner to formulate a realistic assessment of an enterprise which may represent a lifetime’s effort and self-sacrifice.

For example, unique equipment and specialist fixtures and fittings may, in the buyer’s opinion, be an important part of the acquisition for which it would be well worth paying a premium.

Equally, the buyer and his team may be able to demonstrate that modern businesses in your sector perform equally well without such ‘quaint’, but ultimately worthless, details and accessories.

So the lessons here are to compare the market to see what a business much like yours actually sells for, and always look at things through the eyes of a buyer.

Furthermore, as with any sale context, your credibility as a seller is central to the whole process. That means your business valuation must not only be accurate, but it must also be convincingly open and honest about every aspect of your business.

A buyer’s valuation

The due diligence process is essentially an opportunity for the buyer to formulate a valuation of their own.

And though it may be informed by common valuation methods used in a particular business sector, it is also heavily influenced by what buyers on average are prepared to pay for similar businesses.

Clearly, no two businesses are the same. A nuanced evaluation of any SME will also consider further aspects, such as the overall aesthetics, fixtures and fittings and other assets which may form part of the deal.

In addition, even though the asking price may compare well with other businesses for sale, are there significant low-spec features which may suggest a lower estimate would be more reasonable? And importantly, does the business come with some outstanding debts which must also be factored into any acceptable final valuation?

Room for negotiation

As deal time approaches, so the seller may signal he is prepared to negotiate an acceptable asking price.

And this is also the point where a buyer may begin to test the water as regards the potential for compromise. Even so, effective haggling must still be based on solid evidence:

As a buyer, if your due diligence should uncover anything which will ultimately devalue the business, then that may allow you to legitimately offer a lower price for the business in return.

And as a seller, if you have valued your business honestly and accurately, then any offers you receive which are well below your asking price should be countered with the reasoning behind your own assessment and supported by appropriate evidence which validates your position.

Whichever valuation technique is used, a business for sale should always be thoroughly prepared in readiness for a sales listing.

Thorough preparation and valuation mean buyer and seller can quickly establish a working relationship and thus negotiate a good deal which meets the realistic expectations of both the buyer and seller.

If you need advice on valuing your own business or that of a business you are looking to acquire then contact EM&F East Anglia who will be delighted to assist you.

Buying a business poses less risk than starting a business from scratch but having sound commercial and legal advice is crucial to ensure the deal is watertight. Once you have found the right business for you, there are many points to consider and research to ensure you know everything before parting with your hard-earned cash.

Businesses can be acquired in two ways; buying the assets of the business or acquiring the shares in the selling company which runs the business. The most appropriate deal structure will depend on the circumstances of the Seller and the transaction.  The parties’ choice can be influenced by a variety of legal, commercial and tax considerations.

Asset Purchases

Asset purchases typically include buying the goodwill, equipment, property and stock of the business, but what if the seller is a limited company and wants to dissolve after you complete the deal.  The asset purchase agreement will contain numerous warranties and indemnities from the seller about what has gone on before completion and, potentially, obligations after completion.  If the seller company is dissolved this could leave you with no-one to pursue if a warranty is breached and an indemnity worthless. 

You will be taking over the seller’s existing contracts but what if the contracts cannot be assigned or novated (i.e. transferred to you) and the change of control triggers termination provisions.  This will result in loss of revenue for you.

The transfer of any employees is always an important issue.  It is a common misapprehension that buying assets means that you avoid taking on liability for any employees of the business. This may well not be the case as employees of the seller may be subject to Transfer of Undertakings (Protection of Employment) Regulations 2006 which has the effect of transferring employees’ rights and obligations to a buyer where “the whole or substantially the whole” business is sold.

There will be tax consequences to any business transaction both for your own business (if you already have one) and the new one so it is important to obtain specialist tax advice.  One tax disadvantage for a buyer of assets is where an expensive property interest is transferred and stamp duty land tax or land transaction tax is payable.

What if the seller is only selling due to their own precarious financial situation?  Buying assets requires very careful due diligence, particularly if the seller is possibly insolvent as on liquidation or bankruptcy the assets can be clawed back. It is also imperative to check that any assets being bought are unencumbered and not subject to specific charges over or other claims.

Share Purchases

A share purchase is where the buyer acquires the shares of the company that owns and operates the business. In such a transaction the ownership of the company is transferred to the buyer, but there is no other change in the ownership of the business. This means stepping into the shoes of the seller in taking ownership of the all the assets but also the ongoing liabilities.

The main disadvantage to a share purchase is that all of the liabilities of the company (hidden or otherwise) remain with the company and will become the responsibility of the buyer on completion.  To protect a buyer, the agreement contains extensive warranties and indemnities from the seller which the buyer can enforce and recover any losses. However, even if the seller provides these, if the seller becomes insolvent then the buyer will have little recourse against the seller and may not be able to recover their losses.

Buying a business is a complex process which can have costly consequences if not carried out correctly. Having specialist legal advisors to carry out the necessary due diligence and draft an agreement which adequately protects your interests is imperative. If you require any assistance in this regard then please do not hesitate to contact us.

You’ve thought long and hard about selling your business and think it may be time to take that step and move on, but of course you need to know… How much is my business worth?

Putting a pounds and pence figure on your business isn’t easy and the biggest imponderable factor is of course, how much a buyer is prepared to pay.

There are many factors to be considered … whilst multiples of earnings can be used as a business valuation method, be aware that there is no standard formula that can be used to value every business.

These multiples are generally based on what businesses have sold for in the past. Different industries have different multiples and within industries the multiples will also vary dependent on numerous factors.

As Business Transfer Agents please see below some of the most important other factors we consider when valuing a business.

Trading Accounts: 

We will always need to see historic and current trading figures, at least the last 3 years, to be able to accurately value.  It is vitally important your accounts/vat returns etc are fully up to date.  Obviously the more profitable the accounts are the more your business will be worth.

REMEMBER:  Most buyers will have to gain finance to purchase a business and banks will need full & up to date accounting information to support any loan/mortgage.

Value of assets:

If there are premises involved in your sale, whether freehold or leasehold, then the condition and presentation of these along with the quality of fixtures & fittings to be included, is also of high importance.  Keeping your property and trading equipment in good condition and working order, should help increase the overall value.

REMEMBER:  Don’t give buyers any cause for concern.  Keep your premises clean and uncluttered.   Regularly maintain equipment and hold all service/guarantee documents on file as appropriate.  

People:  

How many staff and how experienced/loyal are they?  Is the business dependent upon your personal skills and attendance?  Are staff fully trained and capable?  Staffing is a major factor for value.

REMEMBER:  Buyers have a legal requirement to take on your contracted staff (TUPE).  Some may appreciate the assurance of taking over with the help of capable staff in place.  However, excessive staffing can be a serious turn off.  Redundancies can be distracting and costly, so do try and keep your business as lean and productive as possible.

Competitors:

Similar businesses/properties for sale and more importantly recently sold, are also to be taken into consideration when reaching a valuation. 

REMEMBER:  With internet access, potential buyers will find an abundance of information on-line and will no doubt conduct their own research in this way.

General:

There are of course many other factors to take account of, such as the geographical location and position of your trading premises, the local competition levels seen, customer base, lease terms (if appropriate), market conditions/state of the economy, Asset or Limited Company (share) sale etc.

REMEMBER:  The valuation of your business may also fluctuate depending on local and national market conditions, supply and demand, bank lending criteria, etc.

Whilst all the above is not an exhaustive list, it should give you an insight into what we have to take consideration of when valuing any business.

REMEMBER: Our overriding advice to you is … instruct a specialist Business Transfer Agent, get the business valuation right from the outset and your business will transfer and sell well.

As national business transfer agents for over 55 years, we are happy to provide you with a professional, free and no obligation valuation.  Contact your local office and take the next step forward to your future.

If you are looking to buy a business, you should always look at the process strategically. Just like any other kind of business decision there are factors you should consider which will inform your choice.

There are certain questions you should always ask the seller, some questions you should ask yourself, and certain information you must always check before making any commitment.

So, here is a rundown of the major points you must think about to help you acquire the business you want with the potential you are looking for:

Clearly define your goals

Buying a business is a huge step. So, make sure that you know what kind of business you are looking for, and what you are passionate about. Otherwise, the whole process will just make you more confused.

Do you want a certain location? Or are you flexible about this particular aspect? Remember too that, even if the business is not tied to a specific location, its geographical position may still have an impact.

For instance, it may determine the cost of any raw materials, your own shipping costs, or the available labour pool. In addition, you may also find the location has tax implications you’ll need to explore.

Be clear about the size of your prospective business. Consider whether you’re looking for a small, family-owned enterprise, or something on a much grander scale. If you go big, you’ll not only be looking at higher prices, but you’ll also find that the business of transition may prove to be more complex.

However, you may believe that the higher profits you gain will offset other considerations.

Consider your personal circumstances

Will your work be primarily in a fixed location, or is there lots of travelling involved? And will your new career mostly revolve around a nine-to-five schedule, or do you anticipate working lots of unsocial hours? Many business owners are always on-call. So, are you completely OK with that?

This is, therefore, a lifestyle decision. As such, it may depend on factors like your age, the age of your family, any other dependents, and commitments you may have. Think about how involved your partner will be in the business. In a nutshell, be sure you are in the right place in your life to take on the responsibility of a business.

Consider your financial circumstances

When buying a business, you must be crystal clear that it will be a good match for your acquisition budget and has the potential to meet your ambitions and future financial goals.

This analysis is rarely as straightforward as it may seem. So, you might need to employ someone with the relevant financial expertise to clarify the picture, especially as regards future growth potential.

The current financial health of the business will also determine whether you can obtain favourable terms for any ongoing business finance you may require. At all costs, you must avoid getting into debt pursuing business dreams which just don’t stand up to scrutiny.

Find the right business

Any business you purchase must fit well with your skills and experience, your personal passions, and your lifetime goals. So, what are the sectors in which you already have knowledge and experience? Evaluate whether you have any hobbies which you want to develop into a career. Or there could be a burning ambition you have which may inspire you to develop a new business career.

For example, if you have enjoyed working as a retail manager in a store, that positive experience may be enough to encourage you to take the next step and buy your own shop. You can then use the ideas you had as an employee about how to improve the basic business idea to ensure that your own venture is a success.

Do your due diligence to inform your approach

However attractive the features of any prospective business, it must stack up as a viable commercial project. This procedure is so important to your own future prospects as an entrepreneur that you would be well advised to secure professional help with the task.

While the valuation of any listed business will tell you what it may be worth, only your own due diligence team can confirm whether it is a good business going for the right price. And equally important, your team can also help you to establish that the target business is in good commercial health with no serious flaws.

If you require any assistance with acquiring a business then contact EM&F East Anglia and we will be happy to help.

The Tudor Lodge Consultants team is pleased to announce that we have started an SEO campaign with JUMPSEC. The company contacted us to help with its search engine optimisation strategy, helping to boost their Google rankings and website traffic for specific terms including cyber security, ethical hackers, security analysts, cyber threat and cyber attacks.

JUMPSEC have been helping organisations overcome the continuously evolving cyber threat landscape since 2012. They have a world-class team of cyber security experts, and are like no other because of their combined experience, passion for knowledge and research driven approach.

JUMPSEC offers a suite of services catering to different needs and risk profile. By working in partnership with an organisation, JUMPSEC is able to help defend against cyber threats, tailoring their services to different organisation’s needs, budgets and desired security posture.

The company does this via their assurance services, where they assist organisations who are testing their IT infrastructure – while their Managed Security Services help to protect organisations continuously around the clock. As well as this, JUMPSEC offers Cyber Strategy and Transform Consultancy Services to help organisations improve their overall cybersecurity position and knowledge.

With our background in SEO, this is how we have approached the JUMPSEC make changes.

What We Are Doing For JUMPSEC

Since 2012, JUMPSEC have been helping companies defend against cyber threats. However, their website needs a clean-up. We will be helping JUMPSEC clean-up their entire website including meta-titles, descriptions, response codes and images.

As well as this, we will be helping JUMPSEC find new areas and niches to rank for through guides. We will do this by using landing pages and considering some of their existing pages, to condense the 20 pages that say the same thing into 1 or 2.

Lastly, we will be helping JUMPSEC receive some strong links specifically from cyber, tech, news and IT websites. We will use these to gain links across multiple pages on the website to have a nice mix.

Once completed, their SEO tidy up will show Google that the site is relevant and with good links from several sources linking to different pages on their website. This will highlight that JUMPSEC is worthy of ranking for its own name as well as different keywords.