Is Now the Time To Sell Your Business?
Have you been thinking about selling your business but just can’t decide if now is the best time? Do you find yourself repeatedly analyzing the economic situation and wishing you had a crystal ball? There are positive signs and there are negative signs….
If you’re still up in the air and can’t quite decide whether or not to hit the eject button, here are four reasons you might want to consider getting out now.
1. You’re less interested in fighting the good fight…
A lot of business owners took the Great Recession in the teeth. If you’ve got your business stabilized and the prospect of possibly having to fight through another recession leaves you panic-stricken, it could be time for you to get out.
2. The worst is behind you…
Let’s say you were mentally ready to consider selling several years ago and then 2008 hit and 2009 was bad, and in 2010 and 2011 you made cuts and adjustments. So, you survived the great recession and have been seeing good, consistent profits and revenue growth since then. With your numbers going in the right direction, now might be the right time to make your move.
3. The tax man is coming…
Governments around the world are looking for money to fund the cost of an aging population. At some point this will mean increased taxes.
4. The coming glut…
As a business owner, demographics are not on your side. As the baby boomers start to retire in droves, we’re going to have a glut of small businesses coming on the market. That’s great if you’re buying; but if you’re a seller, you may want to avoid the flood and head for higher ground now.
