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Is now a good time to sell your company? 

On Behalf of | Feb 6, 2023 | Business & Commercial Law |

Taking the leap to launch your own business has been one of the most rewarding things you have ever done. You built a successful brand, have made profits and given others employment opportunities. 

With that being said, there are few business owners who run their companies forever. Recognizing when it’s time to move on can be as important as anything else. Is now the right time for you to sell up? Outlined below are some important factors to consider:

Selling as a sign of your success 

You started the business as a side project, to earn some extra money and utilize your knowledge and skills. Soon, you were making enough to be able to quit your job and focus fully on the company. Now, the business continues to expand. This was never your intention and you’re finding the expansion a little overwhelming. Going global was not your ambition, but it looks like that’s the way things are heading. 

If you’re content with what you have done, then there is no shame in passing the company on to someone else. Another party may have the drive and vision to take what you started to the next level, giving you a fair price to step aside. 

Your own ambitions 

Of course, you may have the ambition to build a multinational company. While your current business is successful, it’s a niche market that is quite small and localized. There are plenty of potential bidders out there looking for successful small businesses. Selling up could provide you with some capital as well as the time to move on to your next global venture. 

If you are considering selling up, then you want to make sure that you maximize the price of the business. Having legal guidance behind you will help ensure that you don’t get short-changed.