When should I sell my business?
The reasons entrepreneurs sell their companies are many and varied, and of course depend a lot on the personal circumstances of the owner. Some common reasons for considering a business sale include:
- Retirement. The most common reason for selling out or handing the business to the next generation.
- Personal circumstance. Reasons might include illness or family reasons.
- Lifestyle reasons. In the last decade, many entrepreneurs have shifted to costal or rural areas for a tree-change or sea-change.
- Passion. Sometimes, an entrepreneur can just lose their spark and need a change of pace.
- Industry changes. A change in conditions within your sector – perhaps brought on by a shift in the competitive landscape, new
regulations or technological changes – could make your business less viable.- Poor performance. When a business starts to struggle, sometimes the best option for an entrepreneur is to get out.