Alan Branagh, BCMS Ireland MD – Northern Ireland and Ireland, comments: “There is no perfect time to ‘pack up shop’, but my experience over the years has shown that there are a number of factors which influence why and when people opt to move on.”
These factors include a change in lifestyle, such as retirement or a move overseas.
Sometimes, owners are serial entrepreneurs, who wish to leave one innovative business in order to start up another.
It is often difficult to let go of a company whose development and expansion you have overseen, potentially over the course of many years.
However, business owners who do not prepare effectively for the sale of their business seldom receive the maximum value when they approach the market.
“Selling in tough economic times may seem counter-intuitive,” says Alan. “But the reality I have found is that for long-term investors, the short-term effects of the peaks and troughs in the economy rarely influence their decision and the value that they put on a company.”
He advises patience, however, as today’s buyers are often more cautious about acquiring companies, and due diligence, the legal process that underpins the sale of every business, is consequently more intensive.
BCMS are market leaders in the sale of privately owned companies, and specialise in assisting company owners with exit strategies that can result in the ultimate growth of a business.
They offer free seminars for those looking to expand or sell their business. Over 2,000 business owners attend a BCMS seminar each year and benefit from their dedicated team and the support they can offer.
If you fall into the category of considering growth or exit strategies, then BCMS’s confidential, free seminars should be able to provide useful information which could help you to make this difficult decision.
To find out more, visit www.bcmscorporate.com for a full list of free, confidential seminars.
Alternatively, you can contact Alan Branagh directly on 02890823656; BCMS Ireland offices in NI are located at Midtown Business Centre, 25 Talbot Street, Belfast, BT1 2LD.