Get me out of here

At some point, we're all going to reach this stage of the entrepreneurial life cycle. Take a look at what follows and, if this is you, call us.

For whatever reason, it's time to pack up and leave the business behind. Maybe you're ready to move into that retirement villa in Marbella that you treated yourself to a few years ago, or perhaps you have just had enough of your current business, lost your appetite for it and want to try something new. Indeed, you might have spotted another opportunity elsewhere that you want to make time for, believing that it offers better prospects for building personal wealth than your existing business does.

You get the picture. No matter what the reason for doing so is, the upshot is that you want to sell your business. And no matter whether you're moving on to business pastures new or preparing for a few jugs of sangria in the Marbella sun, you will be looking to achieve the maximum possible price for the business you have worked so hard to build.

Here's a quick question for you. What is your business currently worth? When was the last time you had it valued? Whilst most of us have a pretty accurate idea of the value of assets such as property, fewer have much of a handle on what their business might be worth. Contact David, by the way, if you want him to carry out a business valuation. It isn't expensive, and it's a vital part of the "personal wealth jigsaw"!

Okay, you must have watched a programme called House Doctor on Channel 5, in which a lady (Ann Maurice) visits people desperately trying to sell their houses. She finds overgrown lawns, untidy bedrooms, poorly decorated walls - you get the picture. You wouldn't expect such properties to sell quickly, certainly not in the current market. And even when they do sell, the vendor is unlikely to achieve the maximum potential in terms of price. Well, businesses are just the same. They have to be groomed disposal, made attractive to potential buyers and stand out from the crowd of other businesses up for sale. Spend a little to get it ready and you'll recover that spend plus a whole lot more in the form of a much better selling price. You've also got to get the tax planning right on a sale, as we've seen some catastrophic mistakes made by owners who failed to take good, professional advice before signing on the dotted line. David will start by doing a valuation with you and will let you have a detailed report to justify his findings. He can then work with you as closely as you like in preparing the business for sale, assisting in negotiations as well as ensuring that you are proceeding in the most tax-efficient manner possible. For a no-obligation chat, call David on 0161 266 1036 or email him at david@davidelliottassociates.co.uk