Everyone starts company keeping some personal and business goals in their mind with no intention of selling it. These are situations or circumstances which may arise in future and force a business owner to sell their own company.
There are many reasons of selling a company such as children’s not interested in taking over the business, business owner himself want to enjoy the retirement life with accumulated money & assets, interest of moving from established business to a brand new start-up, nobody in the family to take over the business etc.
One of the options that are mostly preferred by many of the small business owners after selling their businesses is to remain engaged with their own business as a part time or full time senior advisor/leader or a consultant. Remaining engaged with your business and maintaining your existing relationship with key employees, suppliers and customers will not only increase the value of your business but also influence potential buyers to pay more for your business. Remaining engaged with the company helps maintain your relationship of trust with customers and even minimise their risk and lessens disruption.
Selling your company is a one-time event and it comes with various benefits but you must be aware of its pitfalls too.
Also See: Corporation Tax When You Sell Business Assets
You may get some benefits in selling your company which are specified below –
Also See: Trivial benefits: Not Trivial Enough to Ignore
There may be some potential challenges that comes in your way of selling a business, it may include –
It is suggested that you must consult with your family, friends, attorney and accountant before arriving at the critical decision of selling your company.
In case you want more information or advice on selling your company, kindly call us on 03330886686 or you can also e-mail us at enquiry@dnsaccountants.co.uk
Also See: How to Value a Company or Business
Any questions? Schedule a call with one of our experts.
Vidit Agarwal Vidit Agarwal, Marketing Director of dns accountants, award winning accountancy firm in London. He comes with a great experience and expertise in IT and Marketing related activities.
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