It comes to us all at some time. How do we close the door for the last time and walk away?
There are many issues to consider: –
- Do you sell to someone outside the business for a straight cash sum?
- Do you want to work for a few years to make the handover easier and maximise your sale proceeds?
- Do you have family or employees of long standing who could take over?
- How much is the business worth?
- How do I go about selling?
- Are there any tax implications?
- Can I maximise the proceeds by doing anything a few years in advance?
- When would be the best time to start thinking about these issues?
Act NOW. We have the answers to these questions and the time to start making plans is always well before you think you need to.
Retirement planning is very important and early discussions around the matters that concern you can result in you keeping a lot more of your pot than if you do nothing.