• Selling a business is not an easy thing to do, especially if the business has been there for a long time. However, businessmen think of selling their businesses to explore new opportunities or ventures or to raise a capital.

• A Business should always have a plan for exit at an appropriate time to avoid possible failures in the future. Selling a business may consist of possible actions like: Let out the office and appropriate arrangement of the office furniture and equipment along with the terms and regulations fulfillment as denoted by the law.

• However, one needs to know that it does not essentially mean that a business exit is all about selling the business to another individual or company, as:

• Business transaction can also mean trading of equity capital through a transaction sale to another business entity.

• Selling of a business can occur due to many reasons like:

No possible next in line owner or successors To raise a capital to venture into new business

territory A pre-planned strategy to exit the business after a

certain point of time and To have the business be converted into liquefied

assets after a certain duration

• Some of the steps to follow are:

• Even if the owner does not know how to sell the business in exact details, one should get to know at least the basics of selling the business from an experienced person or a consultant or it can become stressful and difficult

• If the business owner has been in the industry for some time, they ideally have the knowledge of the correct market time to sell their business to get the highest ceiling value for their venture. One should also sell it to the right hands.

A sale of a good business in strong economic market can mean a better financial future for the business owner. But, during an economic downturn, a business can also get sold easily, if it has built a good reputation over the years in the market. The owner should also secure their financial capital from the market and be clear with debts and credits to secure a good credit record in the market.

• There are business professionals and consultants, who are experts in providing guidance for business selling and buying and let the business owners through the full stages of business sale. These consulting firms also have the right knowledge and use their expert skills to negotiate for getting the best deal out of the sale.

• These business consultancy firms also help in alluring the best buyers in the required time target.

• Experienced business owners know the true worth and value of their ventures. However, it would still be feasible to consult a business lawyer or a consultant to know the full actual value of the business as per the current market. One should go for a secret business valuation or assessment to know how much the business would be at the time of selling it.

• Knowing the true value of the business will also help in fruitful business negotiation with the opposite party at hand.

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Acuity Advisors Ltd 67 Grosvenor Street

London W1K 3JN, UK

Phone: +44 (0)207 193 3699 E-mail: info@acuity.co.uk Web: www.acuity.co.uk