It is very important to consider early on in life when in business what you want to do in the future in terms of selling or exiting from the business. Without such a vision and a plan to achieve those things, matters will get very difficult when they need not be.
Usually there are little regulatory and competition requirements applicable to businesses and you can therefore sell internally to employees, management or any other third party.
Factors to consider amongst other things the value of the business, the value you are expecting to receive, whether the consideration is deferred or staged payments, any tie in on exit in terms of your providing help and support, any restraint of trade etc, any accounting and tax issues and the implications upon you. Are there any regulatory points from a governing body or other organisation or entity that regulates your activities? A considerable amount of time will be spent on legal due-diligence and fielding queries from any prospective purchaser.
If you’re interested in buying or selling a business and would like to find out more, please contact Izaz Ali on firstname.lastname@example.org.