Preparing a business for Exit

28 June 2024

Exit planning is a crucial, yet often overlooked, aspect of any business journey that is essential for long-term success. It involves creating a strategy for the eventual departure of a business owner, whether through selling, merging, transferring to family, or closing the business. Effective exit planning not only maximizes the business’s value but also ensures a seamless transition for all parties involved.

Key steps in preparing your business for exit include evaluating the current business value, identifying potential buyers or successors, and understanding the tax implications of the exit.

Summary and key take outs:

  • Start sooner rather than later
  • Be prepared
  • Understand value drivers and what makes you attractive
  • Don’t underestimate the emotional aspects
  • Be intentional
  • Understand the financial and tax implications
  • Work with a guide

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