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When should I sell my business?

Monday, 30 August 2010 | By James Thomson

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.