The unavoidable ‘B’ word
For many business owners a key issue in recent years, whether seeking investment, gearing-up for growth or selling their business, has been the uncertainty caused by Brexit.
Political and economic uncertainty are not the best circumstances in which to operate a business, but so far, we’ve not seen a significant impact on business sales.
Interest from overseas buyers in acquiring UK-based businesses has increased, with the appetite of UK buyers and investors still strong.
The supply of businesses for sale has also held-up as retirement, planned exits and de-risking investment haven’t been put on hold pending more certainty.
We routinely ask clients, whatever stage their business is at, about their thoughts on exit planning.
It’s so important to always have an eye on the end game. Being prepared gives you a better chance to maximise the ultimate outcome, and events may dictate the need or opportunity to sell the business comes sooner than you expect, so it’s never too soon to get your business “ready for sale”.
Events may dictate the need or opportunity to sell the business comes sooner than you expect
This is good business practice, but all owners would benefit from asking themselves if they’re in a position to respond if an unsolicited approach to buy the business arises today, is there a business plan that articulates strategy and prospects? How strong is the management team? Are contracts in place to secure customers, suppliers, equipment and premises?
Getting the basics right will give the best chance of maximising value when selling a business, whatever the economic and political backdrop.
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