If you are the current owner (the incumbent):
What do you expect to achieve by the ownership transfer?
- Make as high a profit as possible;
- Ensure that the business remains in the family;
- Maintain control of the business by only transferring a part of the assets;
- Ensure the growth of the business;
- Preserve local jobs.
To find out more, do the Quiz: Discover Your Incumbent Profile.
Who do you wish to transfer the ownership of your business to?
- The process will be different depending on whether you are selling your business to a third party, you are selling it to your employees, or you are transferring it to family members.
What is the financial value of your business?
- It has an impact on your ability to attract a pool of potential buyers.
- Carrying out due diligence will help you determine the exact market value of your business and distinguish it from the sentimental value that the business has for you.
- Ideally, you should undertake this exercise with a Certified public accountant. The information that you obtain from this due dilligence will allow you to assess the strategic, the financial, and the legal strengths and weaknesses of your business so that you have a better understanding of its real market value.
What is the pace at which you wish to transfer the assets of your business?
- Note that if you transfer stocks and shares to your family or to your employees, the pace of the process may be much slower than if you sell your business to a third party.