Exit strategies for family business

Fully preparing the business for your exit is not a small task – it’s a stressful and risky undertaking, with tax implications as well – and many family business owners benefit from professional advice. As you contemplate this major life change and consider your options to exit the family business, you need to understand what drives value in business in today’s market and what potential buyers and investors are looking for.

Sourced through Scoop.it from: kpmgsa.smh.re

KPMG in South Africa assembled this checklist article. It paints a realistic picture and we agree with nearly all of it. EGS will help you understand business value drivers and features that will improve the attractiveness of your operation.

Inside-out Succession Planning – Part 1

What motivates a successful plan? Only about one in three first-generation family-owned businesses successfully transfer to the children. A quarter of those businesses fail to transition to a third generation. Why such dismal results?

In my experience, it’s because the founder did not adequately plan for succession. The succession program was not anchored by a clear “inside out” reason.

 

Sourced through Scoop.it from: www.hublerfamilybusiness.com

Is your exit strategy actually a succession plan to keep the business in the family? Here’s Part 1 of a series that provides ample food for thought. And, EGS can help you convert thought to action beginning with a courtesy consultation.

 

When Is the Right Time to Sell Your Business?

As with any long-term relationship, a person’s attachment to their business may deepen or diminish over time. But if starting and maintaining a business demands profound emotional effort, leaving one is even more fraught. Whether you know in your heart that it’s time to move on, or are only starting to think about it, breaking up is hard to do.

Sourced through Scoop.it from: linkis.com

Short article reveals the basics and dives into the emotional components of the end game. This is often strange territory for owners. EGS helps big time with the navigation and decision process.

Tips to Make Succession Planning a Snap for Your Family Business

Sooner or later, everyone wants to retire. But if you own a family business, retirement isn’t just a matter of deciding not to go into the office any more. Besides ensuring that you have enough money to retire on, the whole question of what happens to the business becomes paramount. Who’s going to manage the business when you no longer work there?

 

Sourced through Scoop.it from: www.thebalance.com

Good tips here. Get all the right tips and more with a complimentary consultation with EGS.