9 questions to ask yourself before you start to think about selling your business

If you’re thinking about selling your business, think twice. Selling a business should never be a spur of the moment decision. You need to think about the timing, what you need to do, your professional advice and many other issues… So, should you sell your business? Here are 9 key questions to help you figure it out. Is my business ready to sell? You need to give yourself at least two years of preparation before putting your business on the market. Make sure you can produce two to three years of tax returns that are accurate and show maximum profitability to get the best price for your business. Owning a ‘lifestyle business” isn’t necessarily going to help you get the best price. Don’t make your business appear less profitable as it will ultimately affect the sale price. How is a buyer going to value my business? A number of factors will affect the value of your business. But the only true way to...
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