Whether your business is working hard to get back on its feet, or you are trying to manage a growing workload with an uncertain workforce, most people would say this has been a bad time. But does this mean it’s a bad time to sell your business? There are lots of reasons why you might think it is, but perhaps a little counter-intuitively, those are some of the same reasons why it might be exactly the right time.
We are at the beginning of what could be quite a long period of economic uncertainty and the temptation is to baton down the hatches and ride out the storm. But unlike many similar periods this one has had an impact on everyone, and not just across the UK. For many larger businesses, the route to survival and recovery will lie in acquisition, whether for market share or diversification.
The lucky ones have accelerated during this crisis, but for a lot of owners it has been a struggle to stay afloat and financial performance has been hampered. However, there are two important things to remember here. The first is you are not alone and the second is that there is a very good reason for the dip in performance. If you can demonstrate that you have a strong financial track-record and robust business model, acquirers will still see the value. Of course, they will use it as a point for negotiation, but that is where having a strong negotiator in your corner will be significantly beneficial.
Am I overreacting?
This is possibly the most crucial question. You have a successful business, and if you were the type to throw in the towel at every challenge, you wouldn’t be where you are today. But it is natural and right to consider why you want an exit at this stage. The only advice we can honestly give here is to talk. Everyone is different and this is a big decision, so don’t rush into it. Talk to your business partners, talk to your family, or talk to us on a free and no obligation basis. Talking to us doesn’t mean you’ve made up your mind, and we won’t put any pressure on you to do so, but we are independent and there are many ways in which we can help you – growing, recruiting, selling or business transformation.
Are buyers buying?
It is an understandable assumption to think they aren’t, given the circumstances, but it’s just not true. Different organisations might be buying and for different reasons than at other times, but we know from first-hand experience that buyers are still buying. It’s the same principle as selling your goods or services – find out what the market wants and present your business as the answer to those needs.
So, is this a bad time to sell your business?
Not necessarily… It’s a bit of a vague answer but, every business and circumstance is unique so I can’t know for sure without talking to you first. But the answer is probably not as bad as you may fear. It this is the right time for you to consider selling, I’d love to chat it through with you call me on 0845 0678 678 or contact us here