Yet there are ways to protect your business from the unexpected and gain more clarity about the years ahead. Here Brewin Dolphin discuss more...
Some of the questions to ask yourself include:
1. Business protection
• What is the effect on the business if a shareholder or key person becomes unable to fulfil their role or, worse, dies unexpectedly?
• What provision is in place to mitigate these effects?
• If you have any protection when were these arrangements last reviewed? Are they still adequate for the current shape of the business?
We can help you assess your requirements and review existing arrangements to see if they protect the business in the way you want them to.
2. ‘Magic number’ – The saleable value of your company
If you’re a director or business owner and you’re considering selling your business in the next few years, have you considered:
• Whether the achievable price will afford you the standard of living you want?
• How long is the ‘selling your business’ journey?
• What challenges will you face along the way?
• How can you make your business look as marketable as you can?
• How much capital will you need to remove worry and live your ideal life?
We can help you gain clarity and support you in making the best decision to shape your future.
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