Deciding what to do with your business when you can no longer work there is one of the hardest decisions you will have to make as Managing Director. You have invested a considerable amount of time and effort into a business company, and now you have to move on and let it go, whether its passing it down within the family, selling it off or handing over to a colleague. It is the most important financial and emotional challenges that a business owner will face throughout their career.
It helps to have a clear strategy and realistic action plan put in place when exiting your business. We have a range of business advisors with considerable experience and expertise ensuring you realise your full business potential. We can support you through the whole process, from valuing and preparing the business for sale, to finding suitable people to replace your roles and to ensure that the business will run just as smoothly without you there.
One of the most important considerations is the current and ongoing dependence of the business on its owner(s), which is called ‘key man risk’. Putting in place a system or a process that makes the business work efficiently and effectively without the continual involvement of the owner is key to maximising business value when the time comes to exit.
Whether you’re planning on selling your business, preparing to take your company public, or considering the details of your succession plan, at Branduin Business Support we have a range of business advisors who will guide and support you through the process.