BUSINESS EXIT STRATEGY
WHAT CHOICES DO I HAVE IN EXITING MY BUSINESS?
For most businesses owners there are several choices to exit or transition out of your business. These strategies include:
- Selling the business to a third party
- List the business on the stock exchange
- Selling the business to a partner, the management team, or the employees
- Re-engineering the business so that the management team runs the business and the owner stays on only in a limited capacity
- Recapitalising the business by bringing in outside investors in order to take some cash out of the business, but continuing to run the business
- Liquidating the business assets
- Closing down the business
HOW CAN I CREATE A BUSINESS EXIT STRATEGY THAT WILL ALLOW ME TO EXIT MY BUSINESS WHEN AND HOW I WANT TO AND GENERATE WHAT I NEED TO SUPPORT MY RETIREMENT?
The first step in creating a Business Exit Strategy is to commit to developing a good exit strategy document or plan, that outlines the tasks to be completed in order to accomplish the objectives that you have identified.
We strongly urge business owners to create and work with a team of business exit planning advisors, who can answer issues raised whilst considering their exit strategy. We also suggest that for most business owners implementing a business exit strategy, they consider hiring a business architect/advisor who will help them construct and manage the implementation of their business exit strategy plan