“My marketing agency recently asked me to write to all of our clients to ask them why they had chosen to sell their business at this time. I found their replies to be very surprising. In fact, I found them to be quite disturbing.
“The main reason that people want to sell their business at the moment is not Covid- 19 or declining profits or fears about the future prospects of the buy-to-let industry. The main reason is the burden of dealing with ever more complex compliance legislation and the fear of being hit with huge fines for small and innocent mistakes. One client told me that after over 30 years in the business, she had just been hit with her first ever fine. It wasn’t the amount of the fine that annoyed her, it was in her words, “the sheer injustice of it”.”
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