Bankhall has told business owners considering exiting the industry and selling their business to give themselves a two-year timeframe in order to plan and implement a clean exit which maximises the value in their firm.
Linda Preston-Todd, Bankhall’s head of bespoke solutions, told advisers as a seminar in Edinburgh, firms continually underestimate the work involved and the steps required to prepare their business for sale.
‘An unplanned exit can look rushed and in some instances desperate, which can in turn reduce the value of the business,’ she said.
Here were the top five tips Preston-Todd shared with advisers at the seminar in Edinburgh hosted by online DFM forum Discus.