Designing exit strategies

After building a successful business, at some point you might want to retire. Business owners don't always have the time to think about how this will work and how they will profit from it. They also sometimes make assumptions that the business will be worth enough to fuel retirement.

What does an exit strategy entail?

At some point, a business owner needs to profit from their business. Whether you are planning for retirement or looking to start a new challenge, an exit strategy could enable you to sell ownership of your company as a way to reduce or liquidate your stake and potentially make a profit.  Your own exit strategy and retirement plan should be part of your overall business plan.  It needs to work both for you and the business, especially if you are passing the company on to family or trusted colleagues. Part of our advice process will be to educate you on the different options so you can decide how and when you exit your business, then together we can focus on the process of liquidating your stake.

To sell or not to sell?

Business owners who don’t have an exit strategy, which could include the sale of their business or passing it on to future generations, will almost certainly fail to get the most out of their business. With the help of Unividual’s experience, we will look at a whole host of strategies that tie in with other areas of your finances.  Your financial planner will spend time identifying what your objectives are, how to improve the value of your business and even how to reduce the tax liabilities to maximise the sale price and boost income.

Legacy planning for family businesses

If you have a family business and you want it to stay in the family, there are a number of things to consider when you are looking to exit. Who will take on the ownership and control of the business? Will this be family members, other employees that you have hired, trained and invested in, or a combination of both? If so, how are you going to do it?  You will also need to consider income, cash flow and tax responsibility. Do you want to retain involvement in the business? Whether that means maintaining some control in how it is run, or simply as a shareholder? You will need the experience and knowledge to help you put these plans in place to make it happen.

Exit strategies need a holistic approach

Unividual has expertise in all areas of finance. This gives you the peace of mind that everything building up to the sale of your business is in the right place to maximise the return you get from a lifetime of work.

The FCA do not regulate tax planning and legacy planning.

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