Passing a business down to a family member can be an occasion for celebration for the business owner and the family, there are several considerations the business owner has to keep in mind to make this process as streamlined as possible.
If you feel as if your life and business are intertwined, that’s probably because they are.
As a result, it might be difficult to distinguish between the two. Failing to establish clear boundaries between your business and personal lives can have a substantial influence on both.
Data also suggests that many businesses close due to personal reasons such as illness/injury, age, or selling the business.
Are you thinking about selling your business to a family member but not sure about your decision?...
A number of people have successfully started an online business as a “side hustle” or a labor of love or with the intention of growing it into a thriving business.
Small business owners need to answer three important questions to create an exit strategy for their small business. By answering these questions, small business owners will be on their way to successfully selling or winding down their small business easily and affordably.
If you do not have an exit strategy for your small business, we will explain why it is important to have one and why a sense of urgency to create one is important for all business owners.
Letting go and moving on is always difficult. It means that you need to free yourself from some aspects of your past. But when it comes to selling or winding down your business it combines with many factors like fear, loss, grief, regret, stress, and many others. This is more than a business transaction!
“At that point, I realized that I was going to have to tell the employees.” You might have put...
Every business reaches a point where the owner decides to exit the business. It’s inevitable, yet...
