Why you need an exit strategy

Making a Company Will in your lifetime could not be easier if set out correctly. All the objectives and aspirations of the shareholder or partners are taken into consideration. With our bespoke service and trained qualified team we will ensure every aspect is covered to ensure your business Will follows your wishes of your personal Will.

Most advisers will end the advice at this point and promise to review the protection and needs of the shareholders annually. But what about beyond death planning of a shareholder, that’s where Legacy Planning Solutions Ltd really specialise and are proud to be head and shoulders above the rest.

As an existing business owner you’ll have a clear vision of what you want to achieve from it and more importantly what you want when you retire or sell your shares. To maximise the value you get from the business it’s essential to think about how you’ll leave it further down the line.

Carefully planning your exit from the business can help you to:

•mould your business into the ideal shape for your chosen exit option – maximising the value you get from it
•groom successors if they’re coming from within the business – whether they’re a family member or part of your management team
•exit at a time of your choosing, when the business is doing well and the market conditions are advantageous
Ideally, you should include an exit strategy in your start-up business plan. It can then be reviewed and revised whenever you work on your annual business plan and budget – and you can steer your business in the direction that your exit option demands.

If you manage an existing business and don’t have an exit plan, you should now think about what your preferred exit option might be – and consider whether you could change the way you run your business to help you achieve it.

The way in which you exit can affect:

  • The value you and other shareholders realise from the business
  • Whether you receive a cash deal, deferred or staged payments
  • The future success of the business and its products or services
  • Whether you retain any involvement in or control of your business
  • Your tax liabilities