What are your plans for the next 5 years?
Many have seen significant changes to their lives over the last 20 months and have decided that now is a time to make a big change. The same can be said for those who own their businesses and are looking for an exit.
The rationale for leaving isn’t necessarily a negative one, it may be that after many years building a business they are now at a point where they want to enjoy the fruits of their labour. That presents a list of issues that would need to be resolved, that could include;
Is the management team capable of carrying on without you?
How do you achieve the maximum financial benefit from your exit?
How long will it take to create an exit?
Where do I find a buyer?
Does my exit have to be total?
These of course are just some of the issues but the more prepared you are the more effective and rewarding the exit can be.
Many #northeastbusiness are considering that journey and the Engineering & Manufacturing Network can help. We can help you to put everything in place to maximise your return, support the succession plan within the business including identifying necessary ups killing and and potentially identify the right buyer from our own #investors and the wider business community.
We can also help you to understand what it is that your potential buyer will look for and what you can do to expedite the process and achieve a better return by making improvements ahead of the inevitable questions.
If you want to have a conversation then get in touch and help your business on the journey.
Ben Gilhespy
Director of Operations
EMN
Tel; 07568 480693