Exiting a business?

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It’s never too soon to focus on the day you will leave your business. Planning your exit, maximising business value and extracting capital tax efficiently could be the most important decision you make. Contact us to find out how our experts can help you plan a smooth exit.

“It has never been more important to be able to judge when the right time has come to exit a business. It’s something we discuss on a daily basis with our clients and something that you develop a real instinct for.”

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Exiting your business is never smooth or stress free

Without advice and business exit planning, you’ll find yourself with far more stress than you counted on. You may also find that the whole process fails to deliver your expectations.

Business exit planning

How to exit your business – what’s the best option?

There are three main routes to exit your business: Family succession, trade sale and management buyout. All offer different advantages and disadvantages – our business disposal experts can talk you through each option and help you make the right decision for you personally.

How do I get the best price for my business?

To get the best price for your business, you’ll need to:

Ensure the business is in market areas that command high valuations.
Focus on how to add value, not just sales.
Make sure the value of the business isn’t tied up with you, the owner.
Support, mentor and incentivise a successor management team.
Implement good systems.
Plan the timing – when your business is well invested not up against issues.
Let go! Accept that you will no longer be in charge.

We can help you to track down the right people and systems and create incentives that encourage your team to stay when you sell your business.

Is my business valuation realistic?

Many business owners don’t accurately value their own business. Often they take advice from friends at the gym or golf club rather than professionals!

Our business valuation experts can provide an accurate and realistic business valuation. This ensures the business is not over or undervalued and gets you the best possible price.

How do I pay less tax on exit?

When you sell or exit you could be landed with some heavy tax liabilities unless you’ve done your tax planning properly. We’ll weigh up your personal tax and corporate tax liabilities to ensure your exit doesn’t cost you more than you bargained for.

How can Haines Watts help with succession planning?

We can help with all aspects of succession planning. We’re happy to dip in and out as you need us to during the whole business exit planning process.

Here’s just a taster of how we could help when you exit your business:

Plan the business strategy to drive maximum value.
Identify potential buyers and management teams.
Track down the right people and systems to move forward.
Make sure your business is well positioned in the market.
Make sure your business is correctly valued.
Consider and prepare for the buyers needs and due diligence.
Tax plan to ensure you pay the least tax possible on exit.
Work through the transitional period to minimise work and stress.

Planning your exit, maximising business value and extracting capital tax efficiently could be the most important decision you make. To do this without professional help and advice could end up costing.