Exit Efficiently

It’s never to too soon to think about succession planning

While some business owners have a clear idea about how and when they want to exit their business, for others it can be more difficult, especially when they have devoted so much of their life to it. Whichever category you fall into, we can help you every step of the way, from informal discussions to project managing your exit on your behalf. We have many years of practical experience and know how to avoid the pitfalls. But above all, make sure you have a plan. There is no substitute for this and it’ll be reflected in the value of your business.

Three main ways to exit your business

Sale

The first area that springs to most people’s minds when they sell their business is the question “how much is it worth?” Of course, you’ll want to maximise its value as much as you can. We can help you do this and prepare your business for sale. We’d start by sitting down with you and putting together an exit plan. We’d value your business and give you advice on all the tax aspects of the sale that you’d need to consider.

Management buy-out

Selling your business to the management team you’ve created around you is another option. But again, there are certain hoops that you’d need to jump through such as having the business valued. We’ll help you understand the process as well as help you structure the sale in a tax efficient way.

Succession

Another option is to pass your business to a family member, but with the assurance that the person has the skills and the ability to run it. You’ll also need to think about your own future finances and what you need to live on when you pass your business on. Family ties can sometimes cause additional tensions and emotions, which you wouldn’t experience if you were selling to a third party buyer and of course you’ll still need to have the business valued. We’re on hand to guide you, advise you and support you. We’ll discuss all the options with you analysing the pros and the cons.

Business valuation

We are highly experienced at valuing businesses. There are a number of ways in which to do this – they can be formal or informal depending on the nature of the deal. Please contact us for a chat and to learn more about these services.

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Digital Factory Ltd

Cyrus Norton and his partner Ray started the Digital Factory, a large format printers, in 1998 literally from a garage. They quickly established themselves in their key sector of exhibitions and conference work. Today the business turns over around £1million annually across a wide spectrum of large format products. They expanded in 2016 to a custom built factory in Farnborough, investing £1.7 million into new machinery and software. Some of their clients include Chineham Business Park, Leicester City F.C. and School Corridor Studios.

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