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Want to have a chat about your path?
Phone
07889 125697
ac@adriancollins.co.uk
Want to have a chat about your path?
Phone
07889 125697
ac@adriancollins.co.uk
Which route do you want to take?
Are you aware of the many options available, allowing you to exit your business efficiently and effectively?
You may want to keep the business in the family, or pass it on to the senior team in some form of Management Buyout.
You may well be hoping to sell the business for a valuation that rewards a lifetime of hard work.
You may intend to realise the value in the business assets through a liquidation.
There isn’t a right answer, and timing and luck have a big role to play.
Whatever you choose, embarking on your own ‘Path to Exit’ well ahead of time will give you the ability to choose what you want to do.
The longer you leave it to get on your ‘Path to Exit’, the fewer options you will have, which may well mean having to work much longer than you’d planned.
Why do more than 50% of business owners not have an exit plan? …especially when up to 90% of their financial assets are in their businesses?
Here are some pretty scary statistics from a 2017 survey of 200 SME owners…
This is scary stuff.
Even scarier when you add another piece of research that suggests 58% of business owners expect to be able to sell their businesses quickly and easily.
The reality is very different. It takes time to prepare a business for sale, succession or buyout. Liquidation is easier. Expect less from liquidation. A lot less.
A special note on all those Baby Boomer business owners currently approaching retirement.
There’s literally a tidal wave of 50-75 year old business owners heading toward retirement…
… All at the same time!
There are more sellers than buyers in the marketplace, so getting a sale at a good price is difficult.
Surprisingly, research suggests that more than 60% of this group still don’t have a plan to exit their business.
That’s despite more than 70% suggesting that most of their personal financial wealth is still tied up in the business.
This is a precarious situation.
Owners often cite a lack of time; they’re still busy on the day to day deals when the single biggest deal of their life desperately needs their attention.
Most underestimate the time required to effect an exit, whatever way they go.
Click here to complete the questionnaire and assess your own exit readiness.
Exit Planner
Non-Executive Director
Mentor
Business Advisor
