Often we are asked, when is the right time to sell a business? The answer is that is can be difficult to tell as there are a number of factors that can be outside of your control.
However, one thing that often rings true is that it is never too early to start having thoughts around what your potential exit from the business will look like. Whether that is a succession plan involving family, a possible management buy-out (MBO), a partial exit to private equity, a move to an employee ownership trust (EOT) or a full sale, it is never too premature to start to think about what will be important when it comes to an exit from your company. Not just from a potential buyer or investor’s point of view but also what different types of disposal or scenario will mean for you including the effects on taxes to be paid after the exit, staff that will remain in the business, the possibility of a hand-over period and the length of this period as well as numerous other considerations.
This is where getting the right advice can help as well as looking into what the potential road to an exit may look like for you.
On the 27 April 2021, UHY Hacker Young Manchester and Brabners hosted a joint webinar ‘Getting your business in the best shape’. The webinar gave an insight to the importance of a tax structure, different tax treatments of a sale, importance of tax health checks, importance of a strong MI, getting your business ready for a sale and reviewing finances. To view the recording of the webinar, click here.
The next step
For more information please contact Andrew Hancock on 0161 236 6936 or via email on a.hancock@uhy-uk.com.
