Many owners have built up a business over the years, only to discover that they are unable to leave their organisation because of poor business succession planning. Business owners often carry business “know how” with them, rather than formalising operational procedures. This makes a strategic exit very difficult and can lead to directors feeling trapped within their own companies.
Good business succession planning is the process that ensures your company maximises the capital value of your organisation by overcoming these management issues prior to a sale. Strong strategic exit planning ensures that the business is desirable to buyers in terms of its market position, its management team and its financial sustainability. This especially applies to family business succession situations.
It allows your current management to be as likely to be the buyers of your business as they are to be an attraction to a potential trade acquirer.
When selling your home, some key tips from an expert estate agent can help you achieve a higher price and quicker sale. Exactly the same is true for your business. The approach you follow, and key actions taken make a major difference to your ability to sell your business quickly and maximise its valuation. Having successfully managed this process many times, we are experts in terms of what to expect and how best to manage the process. We have developed a “6 steps to strategic exit planning” which helps simplify the process.
As ICAEW qualified specialists, who have worked with a multitude of companies across most sectors, we understand what creates corporate value in selling and purchase situations. We ensure you focus on the key aspects of your business to realise it’s full market value.