One of the hardest decisions to make is knowing when to leave a business in which you have invested considerable time and effort.
At Warrener Stewart, we believe having a well-planned exit strategy can be positive for your business’s continued growth and development.
Your exit strategy should be an integral part of your overall business plan, not something that you suddenly look at when you feel like selling your company. By working towards a structured exit, you ensure the company is saleable and run by people who want to continue with it.
Advice and support selling your business
The most common way to exit a business is to sell it; for many start-up companies this is part of their long-term strategy. It frequently takes months, not weeks to sell a business.
From the start, we will advise and guide you through the entire process, from preparing your business for sale, to ensuring the best possible outcome for you and your employees.
Our tax team can also provide relevant tax advice in advance of your sale, outlining any likely tax liabilities associated with the disposal.
Getting your business ready for a sale
Having up to date information, may not seem the most obvious part of an exit strategy, yet this is precisely what would-be buyers will want to see. We can help compile management reports and even audit your business.
Assessing the value of your business
Calculating how much your business is worth is initially a paper-based exercise. We start by considering where your business is within its lifecycle, then consider what your business does and how it operates.
We will help you to quantify the ‘enterprise value’ of your business. This is usually much more than the true balance sheet value of your business, as it includes a premium for your customer base, staff skills, intellectual property and goodwill – all things you will have spent many years developing.
How ever you decide to exit your business, make sure it is a well thought out strategy and not a reactive decision. The earlier you plan, the more leverage you have when it comes to deciding upon your exit strategy, whatever that may be.
Contact a member of the team to find out how we can help you create a successful exit strategy.
