A need to know about Selling your Business

Today's podcast is about A need to know about selling your business. For many of us selling our business at some point in the future could be us cashing in our pension scheme. It may be a way that we can set up while we're at the top, move on for other different challenges in our life.In this podcast we are going to look atWhat we are sellingThe choices between selling the assets in your business or the sharesFiguring out how much your business is worth.Goodwill. What exactly is that? And does badwill exist? spoiler alert, it does!Options to sellOptions when you sell your business.You either sell the shares that you own in that businessSell the underlying trade of the business or the assets.How do you choose which one? Well there are several things to consider, not just tax and how much money you get.Listen to find out moreValuation and GoodwillHow do you come up with a number, a value for your business? Goodwill plays a big part. Goodwill is what you are buying - Badwill also existsThe money you want, and what you get may not be the same. One thing you need to do is to come up with a value. Psychology also plays a part.Listen to find out morePlanning points and due diligenceLet’s talk about both buyer and sellerYou can’t get away from tax, tax planners step forward.Due diligence, being careful and grown is about reducing the risk of things going wrong.  Make sure that you're not picking up a hot potato, and you're very conscious of what you're buying into.Listen to find out moreSeek helpMake sure that when you're selling, your business you seek professional help, I don’t mean the medical kind! Professional people, like accountants and lawyers need to play their part. They will help you come up with the right numbers, and make sure you get the protection you need. This podcast is A need to know about Selling your BusinessIn This EpisodeUnderstanding the options available when you sell your businessAppreciate the reasons a buyer wants to buyWhat Goodwill isLearn more about the things to consider when selling your businessDeveloping your own Numbers confidence and decisionsTake more control of your numbers to help make you money, survive and thriveLinkshttps://podcasts.apple.com/podcast/proactiveresolutionss-podcast/id1500471288https://play.google.com/music/m/I3pvpztpjvjw6yrw2kctmtyckam?t=I_Hate_Numbershttps://open.spotify.com/show/5lKjqgbYaxnIAoTeK0zinshttps://www.stitcher.com/podcast/proactiveresolutionss-podcasthttps://tunein.com/podcasts/Business–Economics-Podcasts/I-Hate-Numbers-p1298505/