Over 60% of our business sales occur in the first half of the financial year. Many businesses are now up to date with their financials, making it the perfect time to get a current market appraisal.
More than one third* of all small business owners start their business for lifestyle reasons
. It’s a strong proposition for buyers who are looking for a means of entry into a business, and a career for those who seek economic independence.
Present market conditions appear favourable with rising numbers of small and medium sized businesses reporting increased confidence and revenue growth and the World Bank Group ranking New Zealand second in the world for Ease of Doing Business.
There is certainly an opportunistic feel for buyers to this half of the financial year. The demand for quality, established businesses creates an opportunity for sellers to begin implementing an exit strategy to leave your business on your own terms.
Having a clear strategy in mind is essential. It’s a good idea to plan ahead and treat the sale like a project with Craig McIvor of Corporate Management Advice Ltd recommending that business owners “try thinking like a buyer” to add structure and objectives as to how you plan to exit your business.
Using a business broker to help facilitate your exit strategy is the first step in realising the value in a lifetime of work. It will help to plot a tangible path as to when it’s right for you to pull your time out of your business and how to best present the story your business has to tell.
Understanding the dynamics that makes your business successful is key to the role of a business broker in being able to look past the financials and analyse your business from a buyer's perspective.
The right advice is essential for good decision making. The knowledge that comes from many years of experience enables our business brokers to recognise the true value of your business and give you the best advice possible to help you exit your business, while achieving the best price in the fastest possible time.