For many entrepreneurs, setting up and running a business is a labour of love, and they never want to give it up. For others, businesses are simply a means to an end, and will be sold as soon as the time is right. Whatever your feelings towards your small business, there are some things that you should watch out for, because they could mean that it's soon time to sell up.
You No Longer Have Funds for Growth
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Sometimes it can get to the point where your business is ticking over well, and has opportunities to grow, but you cannot fund the transition yourself, or secure the funds to do so. In this situation, it can be prudent to sell the business to someone who does have the ability to take it further.
The Business Doesn't Depend on You Any More
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Do you often find that you visit your business, to find that everything is being taken care of, and you don't really need to do anything anymore? If this is the case, it may well be time for a new challenge. You'll also have a more valuable asset on your hands, if everything is autonomous.
You Can See a Better Opportunity
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An entrepreneur is an ‘agent of change’, and success often requires looking for where there is a gap in the market. Selling your business could well give you the capital you need to take advantage and start up a whole new enterprise.
Your Personal Circumstances are Going to Change
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Whether you've got a baby on the way, or are thinking about retirement, it may be that a simple change in circumstances is the signal to sell. It’s important to plan in advance however; you don’t want to be pressured into selling because of a deadline, as this could mean you receive less in the end.
You Receive an Extremely Good Offer
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It's not uncommon for offers to be made for even small businesses, which appear to be extremely good indeed. Often this is because another entrepreneur or business feels that they can take your business further, or that your business can particularly aid theirs.
If and when you do decide to sell your business, it's always important to make sure that you're not doing it on impulse. You should also ensure that you're not undervaluing the company, and are going to get the best possible price. Using a reputable broker such as Axis will ensure that the process goes smoothly.
You No Longer Have Funds for Growth
[/list]
Sometimes it can get to the point where your business is ticking over well, and has opportunities to grow, but you cannot fund the transition yourself, or secure the funds to do so. In this situation, it can be prudent to sell the business to someone who does have the ability to take it further.
The Business Doesn't Depend on You Any More
[/list]
Do you often find that you visit your business, to find that everything is being taken care of, and you don't really need to do anything anymore? If this is the case, it may well be time for a new challenge. You'll also have a more valuable asset on your hands, if everything is autonomous.
You Can See a Better Opportunity
[/list]
An entrepreneur is an ‘agent of change’, and success often requires looking for where there is a gap in the market. Selling your business could well give you the capital you need to take advantage and start up a whole new enterprise.
Your Personal Circumstances are Going to Change
[/list]
Whether you've got a baby on the way, or are thinking about retirement, it may be that a simple change in circumstances is the signal to sell. It’s important to plan in advance however; you don’t want to be pressured into selling because of a deadline, as this could mean you receive less in the end.
You Receive an Extremely Good Offer
[/list]
It's not uncommon for offers to be made for even small businesses, which appear to be extremely good indeed. Often this is because another entrepreneur or business feels that they can take your business further, or that your business can particularly aid theirs.
If and when you do decide to sell your business, it's always important to make sure that you're not doing it on impulse. You should also ensure that you're not undervaluing the company, and are going to get the best possible price. Using a reputable broker such as Axis will ensure that the process goes smoothly.