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Avoiding the emergency exit: It’s never too early to plan your exit strategy
01st June, 2021
When you sit down in a crowded room, knowing you have multiple exits is not only comforting, it’s a matter of security. The same applies to owning or running a business – establishing a plan for eventually leaving or selling the business is wise and lends a sense of safety to what could otherwise be a risky proposition.
Niall Glynn, partner in Deloitte Private Clients, has extensive experience in tax issues which can arise during the sale of a business and potential structuring alternatives. In the webinar, Niall shared with Davy guests how to get ‘exit ready’ and prepare you and your business for sale.
“The single most important takeaway is to recognise what your preferences are for you and your family around business exit, and the value it may generate. Prepare a default plan for unforeseen events. It is never too late to consider, relative to your current structure, what alternatives may arise to optimise your position - albeit the earlier you have a plan, potentially the more options are available to you.”
Watch the webinar recording for valuable additional insights and considerations for business owners.
Working together
Planning for the future sale or transition of your business is complex. It’s important to give yourself as much time as possible and to have the right team in place to help you navigate this major life event - often the most significant life event of a business owner, financially and otherwise.
Open collaboration, the coordination of professional services and ongoing and open communication with all your advisers throughout helps for a successful transition. The team at Davy is experienced in working with teams of professionals during transitions like this, facilitating collaboration between you, your team and your advisers.
When you experience a significant turning point in your life - or better yet, when you see it on the horizon and have time to prepare - expert advice can be invaluable. Davy is here to help you navigate the anticipated milestones as well as the unexpected with confidence.
Why not request a call today to find out how we can help you plan your future.
Warning: The information in this article does not purport to be financial advice and it does not take into account the investment objectives, knowledge and experience or financial situation of any particular person. You should seek advice in the context of your own personal circumstances prior to making any financial or investment decision from your own adviser. There are risks associated with putting any financial or investment plan in place. There is no guarantee that the plan will meet its objectives.
