Article by Ron Carson, published in Forbes on July 26, 2021.
After a challenging year, many business owners are calling it quits in 2021, but not for the reasons you may think. A surging economy, the prospect for rising taxes, and buyers flush with cash have created a perfect storm scenario for business owners looking to sell.
A growing number of buyers with cash on the sidelines has created significant opportunities for business owners ready to sell.
The potential for higher taxes is playing a role
While the decision to sell a business should never be predicated on taxes alone, the potential for higher tax rates is a consideration, especially among business owners planning to retire in the next few years.
Don’t leave your business to chance
Whether you’re thinking about selling your business this year or several years from now, prepare now by enlisting the guidance and advice of qualified team of financial, legal and tax advisors who can help ensure you get as much—or more—out of the business as you put into it. That helps to ensure that when you’re ready to sell, you get the highest possible return on your investment of time, energy and capital.
Successful outcomes require preparation and a well-orchestrated plan
Succession is much more complicated than handing a set of keys to the new owner, whether they’re family members or not. There are complex financial, legal and relationship dynamics that must be considered and ironed out. That’s why business owners who develop a succession plan well before they’re ready to sell the business generally find themselves at an advantage.
While there are many alternatives for how you may choose to exit your business, defining the exit strategy that’s right for you can be complex.
For more information click here for a link to the full article.
Now may be your time to sell. Please contact me to discuss.
Steve Niehaus, MBA, CBI, CM&AP
239.565.3171
