How to get top price for your business

With millions of baby boomers nearing retirement, thousands of businesses are about to be put up for sale in the next few years, which could result in an oversupply, forcing the price of businesses down.  “This situation could see some owners closing up shop because they are unable to get a good price for their life’s work” according to Dennis Laundy, director of William Buck, as reported in The Boardroom Report published by the Australia Institute of Company Directors, Volume 8, Issue 11 on 16 June 2010.

Laundy believes owners should start planning at least three years before retirement to get the best possible price for a business. This is to ensure profitability is satisfactory, the risks that can be mitigated are, and the tax implications of a sale are properly considered and planned for.

He offers the following tips on how to get top price for your business:

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