Exit planning is an important consideration for any business owner. Whether you want to maximise your wealth at retirement or leave the business in safe hands.

At Prime Chartered Accountants we help you to think about your long term strategy. We ask about your goals and vision for the future. For example:

• Do you want to grow and sell your business for maximum profit?
• Do you want family members to take over?
• How much longer are you planning to spend working in your business full time? 

There are a number of options available that you may not have previously considered, even for the owners of smaller businesses. If you are the owner of a family business there are some specific questions you should ask yourself: 

• Does my intended successor have the right skills and abilities? 
• Does my intended successor actually want to take over? 
• Is my plan fair to all family members? 
• Does my plan minimise the potential for conflict? 
• Will family succession be tax-efficient? 
• Is family succession the best option or would an alternative exit strategy, such as a trade sale or management buy-out, be a better option? 

In the UK alone, 60,000 viable SME’s close each year due to the inability to find new owners. Contact us and let Prime help you maximise the value of your business exit.