Thinking of getting out? Make your exit strategy count Let’s face it, the new Chancellor has business owners well and truly spooked. Like a Halloween
Finance
horror film, we’re peering out from
behind the sofa to
catch a glimpse of
the Capital Gains Tax monster which
is yet to be fully revealed in the budget on 30th October!
Halloween jokes aside, over the
past couple of months The Numbers
Studio has had a ridiculous number of conversations with business owners,
prompted by looming tax changes, who
are questioning whether they should sell their businesses - and more crucially how they even go about doing so.
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How to decide if now is the right time
Knowing what you want from this sale
Timing is everything when it comes to
plan for your next steps.
consider if you’re a business owner
3. Valuation: It’s easy to get
selling your business. Here’s what to
will guide your decision and help you
thinking about making your move:
emotionally attached to your
1. K now your market: Is there
current true market value is crucial.
business, but understanding its
growing demand for businesses like
A professional valuation can help
actively seeking opportunities? If
serious buyers.
yours in the local area? Are buyers the market is strong and stable, it
you set a fair price that attracts
could be the ideal moment to sell.
4. Seasonality and local economics: If
2. W hat’s your goal? Are you looking to
economic conditions are favourable,
retire, start a new venture, or simply move on to a new phase in life?
your industry is on the upswing or local selling during a peak in demand can boost your business’s value.