Start implementing your business exit strategy!

Hi,

Here is some information you might find interesting…

Research indicates (Price Waterhouse Coopers) that by 2024 (9 years from now) a third of the 1.54 million private business owners in Australia will be over the age of 55, ie the baby boomer generation.

With that in mind, during the next 10 years, more than 1.4 million owners, employing over 7.9 million people and contributing almost $500 billion in GDP, are expected to retire.

A lack of exit planning by this aging population of private business owners could seriously impact the retiring business owners wealth; the businesses productivity, employment and its survival and potentially causing a tsunami throughout the economy.

Business owners have a role to play in securing up their future.

Often private business owners;

  • have a lack of understanding of the exit process
  • fail to get the right advice
  • don’t plan the time to work on their business exit plan strategy

Following the GFC, postponed or put off the sale of their business and since have not had the capital, risk appetite or inclination to innovate. When it comes to selling their business they haven’t created or painted the blue sky with their potential buyers and are ultimately forced to sell for little more than fixtures and fittings or at a considerable discount.

Often passing the business onto a family member might be an option for some, finding a willing candidate is often harder than it appears.

Exit planning requires the business owner to take as step back and review their best option. It is never to late to start planning although the earlier you start planning the better chance you have of maximising your sale price.

Almost 70% of businesses in Australia are privately owned. This group of businesses make up 66% of the countries economic output and for 2/3 of employment.

  • 81% of Australian business owners expect to retire over the next 10 years
  • 75% of them have no exit strategy
  • 20% will ultimately shut up shop and walk away from their life’s work

Don’t be one of those who walk away with nothing…

Contact us today at Business Exit Strategy Phone: 1300 858 836