Is your business ready to sell?
Many businesses are saleable as is. The work required to prepare them for sale is practically the same as the work you’ve been doing for many years to ensure they are profitable and sustainable. At any point in time there is a plan for profitable growth.
However, if your business is ready to sell, but you only plan to take it to market in 2 or 3 years’ time, there’s quite a bit you can do. For example, you can ensure that all salaries (including yours) are market related. You can pay yourself through dividends rather than other tax-efficient structures that many business owners like to use. If you have always been planning a cost-saving restructuring, now is the time to implement it so that the results are apparent in 2 to 3 years’ time when you take your business to market.