Preparing for your business exit

Preparing a business for sale is a complex and often long-term process, which requires a lot of preparation and planning. Yet few business owners are prepared when it comes time to be sale-ready. Exit planning involves careful preparation and consideration of the financial and business implications. Here are three tips to help business owners prepare for a successful business sale: Prepare early Business owners should start preparing early to minimise the risk of a failed transaction and to optimise the value of their business. Anticipation of internal and external factors, including market conditions must be anticipated and managed prior to sale. A seller must provide key factual information for a potential buyer through the due diligence process. Due diligence is a time-consuming process requiring a lot of documentation. A business’ failure to keep adequate and accurate financial records can severely..