Corporate Article
21 March, 2019
When running a family business all aspects of growth and exit strategies still apply. However, exit strategies can, especially in longstanding generational family businesses, be emotive.
Growing your family business
Are you looking to take your business to the next level?
There often comes a point when family business owners want to start growing their business through either:
Careful consideration needs to be taken as to the best approach for your business in the current marketplace and you may benefit from speaking to an advisor when starting to make plans.
Exiting your family business
All business owners reach a point where they have to consider their future role in the business, however in family business that decision is highly emotive.
When looking to exit a business, owners often ask themselves:
Every business should have an exit strategy in place to identify a vision for both the business and yourself. Advisors usually suggest having a strategy in place some years before the exit.
Exit methods can include:
Fully preparing the business for your exit is not a small task and can be stressful. Many family business owners benefit from professional advice and guidance when considering all of the matters addressed in this article.
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