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The foundation for success

Exit planning for business owners

28 Oct 2024 | 2 minutes to read

For most business owners who have built a successful business reaching the stage of considering an exit and negotiating a substantial financial reward is the definition of success.

We believe it’s important to define from the outset what a successful business exit strategy looks like. Planning any successful exit takes time and, more often than not, it takes longer than originally thought. Exiting the business you’ve built is a big life change, so naturally there will be complex emotions that come along in the planning stage, during exit, and post exit.

Being proactive about the emotional side of such a life change when you are planning your exit strategy can help avoid complications later down the line. Consider how you feel about these two areas in particular:

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Your personal identity – a successful business does not happen overnight. It is forged through years of dedicated commitment and personal sacrifice. And so it’s only natural that you may feel your business is a significant part of your identity. It’s important to consider those feelings and re-align your perspective as new custodians step forward to take over.
Your focus and fulfilment – most business owners are very driven individuals. So, it is important to consider what might bring fulfilment once you exit. Making a rushed decision can sometimes lead to poor outcomes. We suggest that you starting thinking about the process at least two years in advance. This will enable clear objectives to be set, all options considered and an appropriate support network to be put in place to help a smooth and stress free exit strategy.

If you are thinking about your business exit strategy and want to find out how we can help, contact our London based team:

Francesca Bartholdi

Please be aware that no investment, or investment strategy, is without risk. The value of investments can fall as well as rise and you may get back less than you invested.

Please note that any tax benefits will depend on your personal tax position and rules are subject to change. The value of investments can go down as well as up, and you may get back less than you invested.

Before you invest, make sure you feel comfortable with the level of risk you take. Investments aim to grow your money, but they might lose it too.