BWF Consultants

Will your business fund the retirement you deserve? “Unfortunately, the current value of your business isn’t enough for you to retire” is never an easy conversation to have with a business owner. But it’s a familiar one for us here at Elephants Child. The good news is that there’s often a great deal that can be done to improve a business’s value and plan an exit strategy that supports your financial freedom figure.

Over the years, we’ve worked with many business owners who have a clear plan: sell the business and retire on the proceeds. More often than not, the initial valuation falls short of expectations. There’s a gap between their financial freedom figure – what’s needed to achieve financial independence and the retirement lifestyle they aspire to – and what the business is worth. Very occasionally, we’re able to deliver good news: the valuation is higher than expected, and we can move straight to a sale. Those are always good days.

Many factors influence the true value of a business. While earnings before interest, taxes, depreciation and amortization multiples provide a useful benchmark, they’re far from definitive. Client concentration, reliance on the owner, and the level of recurring revenue all play a significant role in arriving at an accurate valuation. Without a clear understanding of value, it’s impossible to plan effectively for the future.

Where the opinions of third parties are offered, these may not necessarily reflect those of St. James's Place.

Read more: https://www.bwfconsultants.com/article/detail/sjpp/will-your-business-fund-the-retirement-you-deserve

🎯 The purpose behind financial planning

Money is rarely just about numbers. Behind most financial decisions, there is often a deeper motivation — from providing stability for loved ones to planning for retirement or working towards meaningful personal goals.

The Real Life Advice Report 2025 highlights how purpose shapes people’s saving and investing behaviours:

💡 At a glance:
• 87% of savers say having a clearly defined goal helps motivate them.
• 43% list retirement as their main financial priority.
• 95% of those receiving ongoing financial advice report that it helps them stay focused on their goals.

A strong sense of purpose can support confidence and consistency when making financial decisions. Yet only four in ten people currently have a financial plan, and those who do are more likely to feel they are on track with their objectives.

As Claire Trott, Head of Advice at St. James’s Place, notes:

“Those who save or invest with clear goals feel more motivated, more confident, and more in control of their finances.”

Whether you are saving for the future, planning for later life, or considering how to pass on wealth, taking time to clarify your goals can help you make informed decisions about the path ahead.

Read more: https://www.bwfconsultants.com/article/detail/sjpp/real-life-advice-report-2025-chapter3-the-purpose-behind-financial-planning

This content is for information only and does not constitute financial or legal advice.

🌏 BoJ comments spark global market reaction

Global markets saw notable movement last week after the governor of the Bank of Japan suggested that further interest rate increases may be needed. Even a small shift in expectations around monetary policy can influence investor behaviour worldwide, and this announcement was no exception.

Bond yields rose across Japan, the US and the UK, contributing to a short-lived decline in global equity markets. The yen also strengthened as investors scaled back the long-established carry trade, in which low-cost borrowing in yen is used to fund investments in higher-yielding markets.

Japanese government bond yields reached their highest level since 2008. In the US, markets later stabilised, with the S&P 500 closing the week slightly below recent record levels. Gold prices eased back from their peak as the US dollar weakened.

In addition, recent data on inheritance tax (IHT) receipts showed a continued rise, driven in part by gifts made within seven years of death. As rules and thresholds remain complex, many households are taking a closer look at how assets may be treated in future.

This content is for information only and does not constitute financial or legal advice.

Read more: https://www.bwfconsultants.com/article/detail/sjpp/weekwatch-08-12-2025

It's only after you've stepped outside your comfort zone that you begin to change, grow, and transform. Roy T. Bennett

At a glance:
There are long-term cost pressures for SMEs including higher minimum wage, and a cap on NI-free pension salary sacrifice contributions.

Investment and growth levers exist, but details are thin: EMI, VCT, and listing reliefs are referenced to aid scaling, but no new CGT or major relief updates are confirmed yet.

Plan for rising costs, reassess exit strategies, and stay alert to changes while acting now rather than waiting for future budgets.

This Budget arrived under unusual circumstances. The Office for Budget Responsibility accidentally released its report two hours early, creating confusion before the Chancellor even stood up. Outside Westminster, around 10,000 farmers were protesting, highlighting deeper economic discontent across multiple sectors.

Against this backdrop, the government leaned heavily on the language of growth, promising support for scale-ups, startups, and innovative businesses entering new markets.

Read more: https://www.bwfconsultants.com/article/detail/sjpp/autumn-budget-what-small-business-owners-need-to-know

The levels and bases of taxation and reliefs from taxation can change at any time. Tax relief is dependent on individual circumstances.



We work in conjunction with an extensive network of external growth advisers and SME specialists, such as Elephants Child, who have been carefully selected by St. James's Place. The services provided by these specialists are separate and distinct to the services carried out by St. James's Place and include advice on how to grow your business and prepare your business for sale and exit.

Where the opinions of third parties are offered, these may not necessarily reflect those of St. James's Place.

To be fully alive, fully human, and completely awake is to be continually thrown out of the nest. Pema Chodron

📈 Do growth companies always lead to good returns?

The prominence of AI investment and the influence of the so-called ‘Magnificent Seven’ have kept growth companies in the spotlight - but rapid expansion alone doesn’t guarantee long-term success.

Growth businesses such as Apple, Amazon and Nvidia have reshaped industries through innovation and scale. However, there are also examples - including WeWork and Peloton - where strong early growth did not translate into sustainable profitability.

💡 At a glance:
• Growth companies that succeed often introduce something new or more efficient, while managing to convert demand into profitable sales.
• AI continues to drive interest in emerging growth businesses, though many remain years away from consistent profits.
• Companies that fail to adapt, or whose products lose relevance, can transition quickly from “high-growth” to “ex-growth.”

As Carlota Estragues Lopez, Equity Strategist at St. James’s Place, highlights: understanding the business model, leadership and long-term adaptability is essential - and diversification remains an important tool for managing risk.

Even the most successful growth companies eventually face challenges as markets evolve. A balanced, long-term perspective helps ensure investment decisions are grounded in more than short-term momentum.

Read more: https://www.bwfconsultants.com/article/detail/sjpp/does-growth-equal-good-returns

This content is for information only and does not constitute financial or legal advice. The value of investments may fall as well as rise, and you may get back less than you invested.