With a report from the Scaleup Institute revealing that 40% of scale up business leaders are concerned about a lack of relevant support for them as their business grows, BPE Solicitors is launching a series of events to tackle the key issues these businesses face.
Following a recent joint event with Optimising IT focusing on business risk, a further three events are planned for the new year looking at other key challenges for high growth businesses including access to finance, maintaining your business culture and joining the dots between business and personal assets.
Later this month, BPE will be co-sponsoring ‘Scale Up Live’, organised by Business and Innovation Magazine and hosted by The Growth Hub featuring interviews with high growth Gloucestershire businesses and a panel discussion with business advisors from BPE Solicitors, Hazlewoods LLP and The Growth Hub.
Some of the fastest growth rates (more than 80% a year) tend to be businesses in the 10-15-year age bracket. BPE refers to these as ‘Seasoned Scaleups’ and, while the firm’s team of specialists is experienced in supporting clients at every stage of their business life-cycle, they acknowledge that older businesses hold great potential but face different challenges to their younger counterparts.
The key challenges faced by seasoned scale ups may not be unique to this type of business however, given the speed of growth they experience, they often find themselves having to address the issues more quickly than other businesses would. These include:
Maintaining your culture
You may have developed a meaningful set of business values and ways of working that are fully bought into by staff across the firm but how do you ensure that this ‘DNA’ is embedded and embraced as more staff join, potentially across multiple locations?
The business has grown successfully through a combination of initial investment and banking facilities however you’re now at the point where additional outside investment is needed to allow the business to fulfil its potential. What are your options in relation to different sources of funding?
How does your personal life influence your business affairs?
Particularly in the case of owner or family managed businesses, you may well have had changes in personal circumstances over time or may want to protect your rapidly growing business for future generations. How can you ensure that your personal needs are supported by the business and that your business assets are protected in the case of a change in personal circumstances?
- Managing your culture – 6th February 2020
- Financing growth – 9th January 2020
- How does your personal life influence your business affairs – 15th January 2020
To reserve a place at any of the BPE events, please contact firstname.lastname@example.org