Business Exit

There are typically three ways to leave the business that you have probably devoted a significant part of your life to build. One way is that the business goes bust, another is you don’t survive the exit and obviously the best way is to plan for exit.

Business owners tend to have a lot of freedom over their actions, some years they make big profits and others they may even make a loss. Making sense of planning a realistic exit in these circumstances can seem out of reach but there is a way. That way will provide you with a plan to work to and believe in. If you make it you can have the choice of when you leave, if you don’t then you just have to work a lot longer. Here is how we do it.

Business exit and succession planning explained

In order to exit the business you need to know quite accurately how much you need in realisable assets at the date you wish to retire, work less, or simply carry on working with the freedom of being financially independent.

Our role is to work with you to determine how much you need at that exit date and what is realistically achievable. There may be a big expectation gap but there is always an answer. It may be that you need to compromise on expected future expenditure or exit date. We will certainly be looking at the tax side of things and how this can be mitigated. Remember that for most high earning businesses around 50% of profit goes in tax and the remainder finds its way to the business owner. It does not have to be like this.

The plan will represent your realistic circumstances. It will provide you with the value of savings needed to support your expected future lifestyle without working. It also sets out what you need to do in order to achieve financial freedom.

To secure your exit call 0121 704 1354.