20 Oct Around the Web: A Week in Summary
The following information has been sourced by Business Brokerage Press for the benefit of the business brokerage community. The views of these articles do not necessarily represent the views of Business Brokerage Press. We hope you find this information helpful.
A recent article from BizBuySell entitled “Steps to Sell Your Small Business” discusses the 5 main steps every business owner should keep in mind when deciding to sell their business.
Selling your business is a great opportunity to exit and make money from the company you have successfully developed, whether you intend to retire or concentrate on other opportunities. Consider the following 5 steps:
- Plan your exit.
- Eliminate your position in the business.
- Clean financials are paramount.
- Set an asking price.
- Find qualified buyers.
- Negotiate sales price and terms.
- Your continued involvement
- Inventory and working capitol
- Close the deal.
Following these 5 steps will help ensure a smoother sale of your business and win-win situation for both parties.
A recent article from Entrepreneur entitled “5 Important Factors Novice Entrepreneurs Must Consider Before Buying a Business” discusses the 5 factors any entrepreneur should think about when trying to buy a business.
When deciding to buy a business, there are several different things to consider in order to ensure that this is the right financial decision for you. Consider the following 5 factors before making the ultimate decision:
- Business objectives
- The industry
- Future opportunities
- The underbelly
By keeping these 5 factors in mind when thinking about buying a new business, you will be able to figure out if this business endeavor is for you or maybe you should hold off for future opportunities.
A recent article from ExitStrategiesGroup entitled “Selling Your Business to an Existing ESOP is a Win-Win” discusses the reasons to consider an ESOP for your company as well as why it is beneficial to sell to an existing ESOP as a business owner.
Although selling your company to an established Employee Stock Ownership Plan (ESOP) is an intriguing exit strategy, setting up an ESOP can be time-consuming and costly, and it is not suitable for all firms. But what if you could sell your company to an established ESOP firm, securing your financial future while also ensuring the long-term success and legacy of your business and the well-being of your employees?
Why should you consider an ESOP for your company?
- Preserve your legacy
- Maintain a motivated and committed workforce
- Enjoy tax benefits
Why should you consider selling to an existing ESOP?
- Variety of buyer candidates
- Immediate implementation
- Reduced administrative burden
- Experienced management
- Easier valuation process
- Immediate employee buy-in