FCCA ACA. Director-Partner at Xeinadin. Giving helpful accountancy and tax advice in a language that all can understand!
Exiting a business via a sale is not something you just ‘do’. It needs a strategy behind it to be executed well and for you to achieve the value you want for the sale of your business. A strategy doesn't happen overnight. In our experience, a successful exit strategy will span 5-6 years when you add up the time to plan and diagnose areas to ‘fix’, the time to implement the solutions and get things right and then three years (at least) of building that profitable track record. If you are planning to sell your business in the next 5-10 years, you should start having those conversations with your accountant to get that preparation underway. If you aren't familiar with how a business valuation is calculated, this blog tells you all you need to know. If you would like to discuss selling your business with our qualified and experienced team of accountants and tax advisors, simply call 0118 997 7100. #Accountant #Business #Sale
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9moI agree, Christopher, it’s not something that happens over night and you need to take time to prepare and 5-6 years is about right. It’s the reason why I often ask people what their 5-10 year strategy is and if they have an exit strategy because people either don’t realise the timescales involved or they haven’t thought about it.