Selling a business- when is it a right time to sell?
We always advise clients to plan ahead and treat the sale of their business seriously. It is a very important decision and it should be treated as one. Planning ahead will allow the seller to prepare and get the business in to a position that it is ready to be sold. It will allow the seller to showcase the business at a time that is suitable to it in terms of its profitability, market positioning, opportunities etc. It will allow the seller to explore its options more fully, work out what arrangements would suit it best in terms of share sale or asset sale, tax breaks or implications of the options before it.
The worst time to sell a business is when the owner/ manager falls ill or becomes too old to continue with it. This is often an unplanned sale and it comes at a time when the owner/ manager does not have the time, effort energy to deal with the additional work required with the sale in terms of entertaining the buyer, dealing with the buyerÂs legal and accounting queries, engaging your own legal/ accounting advisors, notifying clients etc etc.
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