Planning the exit from your business
Are you planning your exit from your business?
Exiting our business is something that will happen to all of us at some point. The stage in our lifetime may be different to others, but it will have to happen.
Too many business owners wait until they are ready to retire before they start their succession planning. This is often too late.
How are you planning the exit of your business? Those that do not plan their exit often just close the doors and shut down the business with disappointment or have to settle for a less desirable exit.
The exit of your business can be easy, but will it be the right choice to deliver your desired outcome?
What do you want for yourself and your business? Have you considered all the options?
Will your business be ready to enable your departure when the time comes?
Who are your likely buyers or who will takeover the business?
Are you likely to generate the cash return you deserve on your exit?
Will you want to stay involved or just walk away?
When will you start to tell your people?
How will you structure the deal? Cash upfront or stage payments, perhaps with conditions?
If you are in a partnership or have co-Directors, then are your exit plans aligned and are you even aware of each others preference?
Will you have the opportunity to best consider the future of your people and those that helped you run the business in the past?
If you plan your exit, then it is more likely to happen as expected. Too often when business owners are ready to sell, they are disappointed the business is not in the position to sell and unable to attract the valuation they hoped for. Therefore the exit is delayed and becomes a frustration.
Planning your exit now also enables you to be in a better position to control and react if an opportunity arises in the interim.
Here at CRM, we have a reputation for helping business owners like you to develop their business and achieve their objectives on exit. We share our knowledge, expertise and experience of helping business owners like you to exit their business and avoid the common mistakes or pitfalls.
We will work with you to understand your objectives and develop a practical plan that meets your personal goals and objectives. We will help you make the numbers work to deliver the valuation and handover you desire.
How will you decide if we are right for you?
We invite you to come and meet with us
How will you decide if we are the right accountants for you?
Please call us on 01865 379272 or complete our contact form to arrange a confidential, no obligation, discussion about how we can support you.
We hope to be able to support your business
Our support to exit your business in the way you desire includes areas such as:
- Common mistakes and pitfalls
- The importance of planning and timing
- Practical tax planning tips
- Developing a practical plan that meets your personal goals and objectives
- Becoming an investor in your own business
- Designing effective share incentives
- Dealing with the complications of owners of different ages and lifestyles
- Preparing your business for your retirement or sale
- Recruiting with a sale or management buy-out in mind
- Choosing your advisory team and a lead adviser
- What shrewd investors and buyers look for in any business
- Managing ownership transition in a family business