The vital importance of a business exit strategy

We are often asked by clients when is the right time to start planning their exit from their small business. Our answer is - the day you open. Starting, leaving and transferring a business is complex and there are many things to consider in formulating an exit strategy.

In this article, we focus on something that very few people think about when they are starting a business - getting out of that business.

What is exit planning?

Exit planning is about having some control over how and when you leave your business and what happens after that. A solid plan is essential to ensure your business continues on successfully.

There are many things to consider in selling your business, and if you want to achieve certain objectives - such as maximising profit, or ensuring your business is passed on to family members - you need to make sure you have your business exit strategy in place.