DOES BREXIT AFFECT THE TIMING OF YOU SELLING YOUR BUSINESS?

 

Road signs EU and BREXIT

The big news….even unexpected news here in the United Kingdom….was the vote by the British public to leave the European Union.

If you’re thinking of selling your business now, or in the near future, will the leave vote affect your decision?

You’ve invested many years of ‘blood, sweat and tears’ and have now decided to sell your business and maximize your exit.

Then some external event ….. an event where you have no control happens like Brexit….how do you evaluate it?

Do you still proceed with sale of your business?

 

The key is to ask 3 critical questions:

 

1. Macro Environment

 

What is going on in the wider economy – locally, regionally, nationally and internationally?

Is it growing, stagnating or just hanging in there?

Obviously, a growing economy is great news.

Even if there’s a recession, you can still sell your business for the maximum price but it requires even greater preparation and effort.

 

With Brexit, the macro environment here in the United Kingdom has potentially changed….but we don’t know.

It’s unclear whether this will have a negative or positive impact in the short, medium or long term.

 

2. Your Industry

 

What’s going on in your industry?

Is it growing or declining?

Pay attention to warning signs such as talk of new legislation or regulation that will affect your market sector.

 

In my case, regulation had been an issue in the assisted living business .Each week, a new regulation would come out. It was important I monitored these events so I made sure that my business stayed well ahead of both my competitors and the regulators with our systems and processes.

 

3.Your Business

 

What’s going on in your business?

Is your business growing? If you have historic growth and the growth is projected to continue….this represents a wonderful opportunity.

On the flip side, if your business has plateaued or is struggling, you need to be aware of these facts. You will need to create a compelling story when you sell.

 

It’s not only about one event or one piece of information….Brexit is one factor but there’s a greater picture to see.

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