What happens if you are struggling to sell your small business? What if a buyer is seeking some of your key assets but is not interested in the entire business? Maybe you need to expedite the process of transitioning out of the business?
Exiting a small business will likely include preparing financial statements for potential buyers as well as obtaining a business or net asset valuation (ExitGuide Pro includes a valuation). If you need a refresher on some of the terminologies or you do not “speak finance” ExitGuide has summarized many key terms below in what we hope is a clear and practical explanation.
An asset purchase agreement is an alternative exit strategy for small business owners that do not want to sell their small business.