In this episode, Tom Griffiths is joined by Neil Ackroyd, founder of Precision Corporate Finance, to explore the realities of buying and selling businesses in the UK—particularly for owner-managed SMEs.

Neil shares his background in corporate finance, having qualified at KPMG before spending over 20 years advising on company sales. Rather than focusing on specific sectors, Neil champions a generalist approach, arguing that expertise in the sale process matters more than industry knowledge—especially as AI can now perform buyer research faster and more accurately than human analysts.

A major theme of the discussion is the flawed nature of the small business M&A market. Neil critiques many corporate finance brokers whose business models focus more on charging upfront fees than achieving successful outcomes, with some completing as few as 7% of deals. He explains how confidentiality, fear, and emotional complexity make business owners reluctant to discuss selling, likening it to the secrecy surrounding infidelity.

The conversation also addresses the harsh truth about business valuations: unless a company is generating at least £1 million in EBITDA, it is unlikely to be sellable—despite what many brokers promise. Neil highlights the lack of viable buyers for smaller firms, noting that trade and private equity buyers generally ignore businesses under £10 million in value.

To address this, Neil introduces two key initiatives: a diagnostic quiz for owner-managers ("Can I Sell My Business?") and Retire Today or Retire Tomorrow, a program offering transition or closure solutions for unsellable businesses.

Packed with practical advice and sharp insights, this episode is a must-listen for any business owner thinking about succession, exit, or the future of their company in a rapidly changing landscape.

To contact Neil: https://www.linkedin.com/in/neiljackroyd/