COVENANT BUSINESS PLANNING SOLUTIONS

Exiting a Business

You’ve reached that point in life when retirement is looming ahead and you are wondering when the right time is to exit your business. But determining when to exit is not an easy decision to make. There are numerous interrelated decisions to be made, such as:

  1. What will you do with your free time after exiting?
  2. What new purpose will your life take on?
  3. How much money will you receive upon exit?
  4. Will this be enough to cover the objectives you’d like to achieve?
  5. If you are nearing retirement age, will this be enough to cover retirement expenses, leave a legacy for your family and cover possible medical costs?
  6. What will happen to your staff, clients, and business partners?
  7. What is the best timing for your exit, given the economic cycle of the country and industry, as well as the growth curve of your company?
  8. What will be the best form of exit (e.g. sale, going public on the stock exchange, selling to management, or transferring to your children?
  9. How will you preserve confidentiality during the exit process, to ensure that your business isn’t damaged?
  10. How will you actually run the process and conduct a Transaction?
  11. What kind of advisors will you need? Who will you use?
  12. How will you minimize (legally avoid) taxes?
  13. How will you help ensure the continuity of your company?
  14. Should you seek or be available for a post-exit role in assisting your company to manage this continuity?
  15. How will you invest any proceeds from a Business Exit?

All of these questions and more can be easily answered. Start with your FREE consultation with Covenant Consulting Group!