From Start up to Sale, running a business never did run smooth
In a current series of Kleinwort Hambros’ podcasts focused on Entrepreneurs and Business Owners, hosted by James Hurley, Enterprise Editor at The Times, we spoke with six successful entrepreneurs to delve behind the scenes of ambitious and fast-growing companies.
Through understanding the people behind the businesses, as they share the personal and business challenges they have faced throughout their entrepreneurial journeys, we have learned a great deal.
The series kicks-off with James Hurley, talking with Jake Humphrey – broadcaster, podcast pioneer and Co-Founder of Whisper, an award-winning production company.
To listen to the podcasts click here
Over the past decade, Jake has been at the forefront of coverage for major international sporting events. He is also the founder and host of The High-Performance podcast, offering an intimate glimpse into the lives of high-achieving individuals.
A highly successful broadcaster himself, in 2010 Jake made a leap of faith – cofounding Whisper alongside producer Sunil Patel and Formula One commentator David Coulthard. The company has since grown and Whisper currently produces more sports highlight shows for terrestrial TV than any other broadcaster. Not bad for someone once sacked from a fast-food job for poor communication skills!
A consistent theme throughout the podcasts is the importance of good people – as colleagues, customers and clients, investors, and advisers. As pioneers and risk takers, entrepreneurs need people they can trust to always act in their best interests – and provide clear guidance through an objective view of their situation and goals, writes Jeremy Hill, Senior Private Banker, Kleinwort Hambros.
Whether you’re committed to growing your business or thinking ahead to an exit strategy, we’ll provide you with expert wealth planning advice, banking and investment expertise to manage your personal finances.
A strong financial partner like Kleinwort Hambros can help across all the stages of your journey – from providing banking services and liquidity as you grow, to planning a succession strategy and managing the capital if one day you decide to sell. We offer a detailed and personal service that’s attractive to entrepreneurs and business owners of all kinds.
“Entrepreneurs need people they can trust to always act in their best interests – and provide clear guidance through an objective view of their situation and goals”
SIMPLIFYING LIFE’S FINANCIAL CHALLENGES FOR ENTREPRENEURS
When you bank with Kleinwort Hambros you’ll have access to a wide range of products, services and advice from a dedicated team of specialists.
I Financial planning
A carefully considered plan is essential if you want to take care of your wealth for many years to come. Whether you would like us to review your overall financial situation or resolve a specific issue, we’ll provide the expert guidance you require.
Saving, investing and wealth accumulation – regular and lump-sum investment solutions tailored to your objectives.
Lending – individually tailored financing solutions to unlock value from your assets and provide the finance for property transactions and other high-value purchases.
Liquidity planning and financial protection – using insurance products to secure your family’s financial future against the unexpected.
Retirement planning – investment strategies to maximise your savings and provide a regular income in later life.
Estate planning – finding appropriate ways to pass on your wealth efficiently, as well as considering the implications of any decisions within your overall plan.
Wealth structuring – creating the right structures and governance framework for your wealth when you have assets or connections in more than one country.
I Succession planning
Thinking about the future of your business involves not just the ongoing operation, but also management and ownership issues. There are many layers of complexity and sensitivity that can make succession planning a challenge. We can help you maintain the long-term perspective that gives your business a competitive advantage by focusing on purpose as well as profit.
We understand that private businesses are different from other types of companies. Roles and relationships can be complex, yet it’s crucial to remain focused on the long term and see yourself as the steward for future generations. We will partner with you, legal, tax and accounting experts, and can also introduce you to our carefully selected network of professionals to explore:
Ownership – creating different share classes and applying different voting rights can help family members exit the business when they think the time is right.
Corporate governance – making sure you have a clear system of rules, practices and processes by which your company is directed and controlled.
Values – setting out ways to align your family values with your company’s purpose, including your approach to sustainability.
We will leverage our experience of working with multi-generational families and entrepreneurs to review your arrangements and help design a succession plan.
I Selling your business
Every entrepreneur’s journey is different and setting out a plan for the next phase of your life can be intimidating.
Following a liquidity event, it is important to reflect on your personal goals and circumstances, as well as the structure of your wealth. When creating your wealth strategy, the following principles are essential:
Securing your family’s future – build a plan to provide for your family for many years to come.
Enjoying your success – having worked hard for your success over many years, it is important to reward yourself for your commitment.
Establishing a lasting legacy – consider establishing your legacy by finding ways to pass on your wealth to your family or wider society through philanthropy.
There are many issues to consider including income and capital gains taxes, as well as your pension arrangements. You could think about setting up a new vehicle to manage your wealth, such as a family investment company, family limited partnership or private open-ended investment company (OEIC).
When you own a business, your relationship with your advisers is likely to last for many years and our clients find comfort in the knowledge that we have accompanied many others along their entrepreneurial journeys.
For more information
Contact Jeremy Hil
Kleinwort Hambros
Newbury Office
[email protected] – 020 7597 3445
