From the day you commenced or purchased your business you have been in a state of transition or change. For many businesses the situation is, that this change is largely unplanned. A specific external event of a positive or negative nature is usually the catalyst for change and the reaction, is just that … a reaction.

The stark reality

• 40% of business owners intend to leave their business in the next five years, and around 30% of these will have difficulty finding a buyer.
• 50% of business owners plan to use their business as a primary funding source for their retirement.
• Majority of small businesses (84%) are very dependent on the owner ... but only 28% felt it would be difficult for someone else to take over the business.
• Many business owners don’t plan for the exit if they have no one to leave the business to, or they think their business is too small.
• The most popular exit strategy outside keeping the business in the family is to advertise the business for sale without identifying a buyer.

Exiting, stepping back, changing roles.

What if an opportunity arose where you could sell the business totally, in part or back it into another business tomorrow?

What if you wanted to sell … do you have the business in a saleable condition for a buyer?

Can you even afford to sell?

I’ve been seeing all too often recently where businesses are closing their doors for what is seemed to be lots of reasons. more often than not it's a lack of a planning process that's the cause for demise.

It's more than the money

Have you thought about the timing, process steps, implications at a personal and business relationship level?

Does your business have an ongoing active planning process which is used to guide the business forward?

If you were to buy your business today from someone else what would you want them to provide to you that would make your decision so much easier?

Unplanned and planned exits, transitions and succession involves more than money.

There is a huge personal capital issue outside the legal, insurance and accounting components of the traditional exit or succession planning processes. Succession and transitions plans are about setting up systems and ordered processes ... may be something that needs tidying up in your business?

If you could increase the value of your business by 20% or even 50% why wouldn't you?

Don't just make the decision to close the doors and walk away ... make a plan and take control of your business exit.

If your business is based in regional Australia and you would like access to some independent support as you plan and implement your exit strategy, have access to key advice from business risk specialists and expert succession and exit legal advice, then feel free to make contact or complete the form below and I'll get back to you.

Andrew Young

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