SMEs Challenges & BPF Solutions, Part 6: Exit at Right Time and Right Price
One of the serious challenges that many businesses face these days is Exiting from a business which is a really important story by itself. We are talking about exit at the right time and the right price. Let's clarify this important challenge with a fact. In Québec province there are over 30,000 businesses with 70-year-olds or more and owners’ children are not willing to take over the business, so they should find someone to buy their business which is not practically possible. Because buyers tend to buy a business that they have sufficient experience in, otherwise there is no point to invest in.
As a matter of fact, most business owners do not have a plan and strategy for the exit which brings serious challenges and problems in the end. Generally, if business owners decide to sell their business, they should think of that 3 to 4 years before the selling point. A couple of steps should be taken in advance to have a profitable exit. The first thing in exit strategy is proper management setup and making the business a self-running one. So, from a management point, the business has to be made independent of the management and can work efficiently and run by itself. In fact, it is not possible without restructuring the business and this is the critical step that BPF Solutions can help businesses succeed.
Furthermore, your financial statements have to be properly documented to be more transparent for exiting as during the state of the business. BPF Solutions prepares a financial statement to minimize the taxes and increase expenses and, reduce the value of the profit value of the sale. Do not underestimate the importance of a good advisory when there is a plan to exit as our experience confirms that most SMEs run to zero when they are exiting which is a disaster.
For detailed and specific information you may contact 1.877.800.2731, 1.416.222.2909 or email@example.com