Has Your Business True Value That Could Be Sold?
Many small business owners never seriously address the very important subject of exit strategy. They mainly create a job for themselves within their business where they are the
business. They work very long hours, get involved in many menial tasks and end up fire fighting because the business is not set up to be profitable without the owner being there.
This dilemma creates a bigger problem. If the business owner is the business then what happens when the business is sold? The value of that business will be reduced.
Selling your business should be well planned and time oriented. Professional help should used including an accountant, solicitor and business adviser.
The aim when planning to sell a business is to build real value into that business over time. Value that can be measured and proven. Ideally the general business processes should be tested,
improved, repeatable and systemised. This can be typically seen in a successful franchise business model where the franchisee is buying the
franchise because it is a proven system that can be repeated and is profitable.
The government gives very generous tax incentives to a business being sold to encourage healthy enterprise. So selling a business even with large capital
gains will attract only low tax.
by Business Advice
Tel 0800 781 0414