About 40% of my clients are business owners, or retired business owners. Starting in 2013, I noticed that deal activity was picking up for those owners. Low rates, lots of money in the system, and other factors led to interest in buying good private companies. That activity has increased over time.
So, whether or not you had planned to sell your company you may already have received (or will receive) an unsolicited offer to buy your business.
What should you do?
You should listen though since this seller’s market can turn into a buyer’s one if rates go up and the economy slows down.
What I meant by what should you do, is how do you respond to that offer to buy your business and what are the next steps?
Over the last 25 years, Heritage Financial has helped many business owners stay focused on managing and growing their business by taking meticulous care of their financial planning. We’ve helped them strategize ways to maximize cash savings during working years, and set a plan in place for transitioning to retirement. And we’ve connected them with expert advisors that can assist in the sale of their business and navigate the income and estate tax implications of a sale.
Check out a recent case study of the work we have done with business owners:
If you’ve had an offer to buy your business, or are starting to think about selling, let’s talk. Our highly credentialed Wealth Management teams with, on average, 20 years of financial experience, would be happy to provide our thoughts on next steps for your business transition strategy and your overall financial picture.
[Someone Offered to Buy Your Business, by Sammy Azzouz, was originally published on The Boston Advisor Blog on August 19, 2021.)
As President of Heritage Financial Services, Sammy works closely with our CEO on all facets of the firm’s business. His primary management responsibilities are helping translate the long-term vision into a strategic direction and goals that are effectively implemented so that Heritage can remain at the forefront of delivering high-quality wealth management services to its clients.
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