Succession is a difficult topic for many to broach who own a business no matter what sector they operate in. They recognise that any move out of their ’empire’ removes them entirely from something they have nurtured over many years and no doubt experienced highs and lows but all the time having great pride in what they have achieved.
They have built strong relationships with their people and also benefited from the financial flexibility that it brings but are now at a point where they want more time, less stress but also financial security by releasing their ‘investment’ in the most beneficial way possible.
Sometimes, if not most times the financial reward that can be gained through a sale is not what the owner expected having valued their business on the blood sweat and tears put in, which a newer buyer will respect but won’t pay for. They want evidence of repeated financial success through profit, a product or service with longevity and scaleability and of course a great team to run the show. We should also realise that the last 20 months will have put a dent in that value which no #investor will pay for.
Engineering & Manufacturing Network work with many such businesses and business owners and have helped some of these to find an exit and see the company thrive on the new ownership.
Our affiliate MHA Tait Walker support businesses like this everyday and the interview with their Paul Shields and our membership manager Kaye Collins helps highlight some sage advice for anyone starting this journey.
Please take 2 mins to have a look at the video and of course if you work in the #engineering or #manufacturing sector then get in touch as there are so many ways that we can support you in your day to day journey.