Plan your business exit
Posted 05 Sep 14
Will you sell your business or retire in the next 5 years? You better start planning now.
In an ideal world, you mapped out your exit strategy with your advisers when you commenced business or set up your existing structure. You also revisited it regularly to address any change in circumstance or law.
Unfortunately, this does not happen enough in reality. Planning a business exit so that you maximise your returns and achieve your financial goals can take years. So, it is critical to consider your options and plan exit strategies well before you want to sell.
- How is my business performing?
- Do I need to take steps to improve it?
- What am I doing next?
- New business?
- What are my personal and financial goals?
- What are my likely exit options?
- Trade sale?
- Generational succession? Who? What development and training do they need?
- Are my legal documents, policies and procedures up to date?
Getting the right advice upfront is crucial, as is getting the right ongoing support to execute on the strategies required to maximise the returns.
If you're not sure what your exit strategy is and don't know where to start, get in touch with one of our succession experts today.