While exiting your business may not currently be one of your key concerns, nevertheless it is important to give some thought now to how you will make an exit from your business, when the time comes.
As well as the legal complexities, it is essential to take steps to minimise your tax liabilities, while also maximising your financial gains, on the sale of your business.
Key issues that might form part of your exit planning strategy include:
- Creating a succession plan – ensuring a smooth transition to your successors, in accordance with your specific wishes
- Preparing your business for sale – including timing the sale, and gathering the necessary information for potential buyers
- Maximising the sale value – with such strategies as increasing sales figures, securing your assets, formalising contracts and reducing liabilities
- After the sale – using the funds released to provide a comfortable retirement, or to begin a new venture
We can help you with all aspects of exiting your business, and as part of our service we will ensure that your plans are regularly monitored and updated to keep abreast of relevant changes in tax and company law.