selling your business

5 Ways You Can Exit Your Small Business

5 Ways You Can Exit Your Small Business

For many entrepreneurs and business owners, deciding to exit your business is one of the most critical decisions you could make in your professional career. After tirelessly dedicating years to ensuring the growth of your company, winning new clients and hiring new staff, you’ve finally decided now is the time for you to leave your legacy in someone else’s hands. Once you have made this significant decision, you then need to think of the best exit strategy for your circumstances. Whether this be handing the business over to a family member or a straightforward sale to a third party, navigating the labyrinth of exit strategies is a decision that requires careful consideration. So what are the key options? Handing over to a family member Transferring ownership of your company to a relative a... »

Planning Your Business Exit: What You Need to Know

Planning Your Business Exit: What You Need to Know

Aside from starting up, how you handle your exit is possibly the most important and tricky stage of your life as a business owner. Too many owners spend years carefully growing their business – only to mess up their exit plan and see their hard work go to waste. This article is intended as an introduction to exits for business owners, and should be a helpful starting point when putting together an exit plan. We cover how to plan for an exit and set your objectives and the different ways you can actually exit a business. You will then learn how to perform specific types of exit, namely trade sales, management buy-outs and handing over the reins to a family member. How should I plan for an exit? Start early. When you started your business, it’s likely you had an eventual exit in mind, ... »

Retirement

Financial crisis delays Retirement

Small–business owners are being forced to shelve their retirement plans because of the deepening economic crisis, according to financial services firm Clifton Asset Management (CAM). CAM’s survey of more than 1,000 small–business owners revealed that 42% blamed the credit crisis for dealing a ‘major blow’ to their retirement prospects. The research also found that 40% said that their pensions and savings were their main concern, with an equal number saying that the bleak economic outlook had severely affected the likelihood of finding an interested buyer. CAM director Anthony Carty said: “The ongoing stock market turmoil and the bail–out of the banks will do nothing to calm people’s fears when they weigh up their retirement options in the com... »