How to sell a business?

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Starting out in business can be very tough and thinking about selling that business one day is often a distant thought. Although can be a costly mistake. Retiring or making an industry change are 2 of the most popular reasons for selling a business. Knowing when the right time to sell the business and how to acutely gather interest from prospective investors, competitors, or aspiring business owners is often unknown. Business brokers can help with selling a business as they have a large database of buyers who could be a potential fit. There are many ways a business can be sold, and a good accountant or commercial solicitor can advise on this. Naturally, legal processes need to be followed in order to sell any business.

What is the best way to sell a business in the UK?

Having a clear plan of why you want to sell your business and what you want to achieve from this is fundamental. This is because it sets out the blueprint for any potential buyer. Also, if you choose to sell through a business broker this gives the broker a clear indication of why you are selling your business. Along with your expectations for the price you are looking to sell the business for.

Getting you ready to exit your business

When exiting the business there are many different things that naturally run through your mind. Speaking to your trusted advisors such as your accountant, solicitor or broker can be hugely beneficial. There are various types of business sales or exits. MBO or management buyouts are a form of business sale whereby a management team that is in place essentially takes the next step in becoming the business owner. Allowing the current directors to exit the business. Having set timescales or a timeline of knowing when a sale should take place can reduce stress and emotion.

How Pinnacle can help to sell a business?

As finance brokers, we mainly deal with clients who are looking to purchase a business which can be incredibly valuable for any seller. We have built up trusted partnerships with business brokers across the UK who can assist with the sale of a business. They can value your business and advise on how much you can look to achieve. In turn, ourselves as a finance brokers can raise the required funding for the purchaser.

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