Thinking of retiring at 40?
Don’t wait until you’re 39 to start thinking about it.
If you are selling all of your business or just disposing of certain bits the best approach is to have a plan. We recommend you have an exit strategy planned when you’re still in the start up phase.
First of all, is your business sellable?
To be attractive to buyers your business should ideally:
- Be profitable
- Have potential for growth
- Have a credible and balanced customer base
- Have dependable income streams
- NOT have serious debt
- NOT have any serious litigation
- NOT be overly reliant on the owner to bring in new business or retain old business
Secondly when is the best time to sell?
- How will it affect your personal tax position
- How can you minimise your Capital Gains liability