How to know the true value of your company
Thinking about selling your company?
More and more owners of small and medium sized businesses are considering selling their businesses as they approach retirement age. Of the thousands of businesses that will change hands this year, most will involve privately held companies selling for £100,000 to £10 million. Yet if a business owner has not experienced a merger or an acquisition or a disposal before, few will know what to expect or how to proceed. In the lives of entrepreneurs, few events are more emotional -or significant, than selling their business.
That is why you need to appoint a professional expert to value and sell your business.
Business owners should always be thinking about the possibility of selling. The smart business owner should start planning for a sale years before they have any intention of selling. Set forth below are some answers to questions frequently asked by existing business owners.
The optimum time to sell is when your business is doing its best, not before you are forced to do so for health or financial reasons. This places you in the strongest negotiating position. You should actively start the process approximately two years before you want to complete the transaction by contacting an experienced business broker who can give you recommendations on how to maximize the value and marketability of your business. It usually takes at least six to twelve months to sell a business, and the buyer may ask you to stay on after the sale for a transition period.
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