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Exiting my business

When considering an exit strategy from your business, there are two main options to consider: selling the business, either partially or entirely, or transitioning the leadership to someone else.

Our team will help you to fully explore the option that is right for you, ensuring a tax-efficient transaction from beginning to end.

If you choose to pass the business on to another director or a family member, we can provide valuable support in developing effective succession plans. Our goal is to ensure that your company is optimally positioned for future generations, setting the stage for continued success.

If you are considering exiting your business, either because you are retiring or you are planning to invest in another enterprise, you will need to consider the following:

Define Your Goals

Start by clarifying your personal and financial goals and the desired outcome for your business exit. Determine whether you want to sell the business, pass it on to family members, merge with another company, or explore other options.

Develop a Succession Plan

If you plan to transfer ownership within your family or to existing employees, create a succession plan that outlines the process and timeline for the transition. Identify and develop potential successors, ensuring they have the necessary skills and knowledge to lead the business successfully.

Seek Professional Guidance

It is never too early to consider your exit strategy. Our experts will work closely with your other professional advisors including lawyers and personal wealth advisors. Together, we can help you navigate the complexities of business exit planning, ensuring you make informed decisions and optimise your financial outcomes.

Valuation of the Business

We will help you to determine the value of your business through a comprehensive valuation process, providing you with its current market worth, which is essential for negotiating a fair sale price or making informed decisions about transferring ownership.

SRG Newmans
Prepare the Business for Sale

If you plan to sell your business, we can advise on the steps you need to take to enhance its value and make it more attractive to potential buyers. This may involve addressing any operational inefficiencies, improving financial performance, strengthening customer relationships, and organising your financial records.

Financial Planning

We will closely with your personal financial advisor to develop a retirement income plan that aligns with your desired lifestyle and long-term financial goals. You will need to consider factors such as tax implications, estate planning, and investment strategies to ensure a smooth transition into retirement.

Tax Considerations

We will help you understand the tax implications of your retirement and business exit plans and ensure your tax burden is minimised by structuring the sale or transfer of the business in the most tax-efficient manner.

Execute the Plan

Once you decide that the time is right to exit or retire from your business we will help you execute the plan according to the defined timeline, monitoring progress, and addressing any challenges that arise.

Remember, retirement and business exit planning require careful consideration and early preparation. Starting the process well in advance allows for a smoother transition, maximises the value of your business and minimises your tax burden.

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