Your business plan is a valuable roadmap that will guide you through the start-up, and how your business grows and develops. It can be your guide as you leave your business.
leave a company, which is also known as succession planning, usually is not as easy as you close your doors. Whether you sell your business, to transfer it to family or friends, or close your business well, there are various legal, tax, financial and emotional impact that you should anticipate and plan for well before you choose or are forced to leave your business
to develop your exit strategy
to explore your options carefully, and the impact of each
There are four general ways to exit your business consider: ..
- transfer your business to a co-worker, family member, friend or other
- Sell your business
- Close your business
- bankruptcy
see our Legal requirements egress for more information about each option. If you are unsure which option would be for your business best and personal circumstances, we strongly recommend you to consult an accountant and a lawyer before you make any decisions.
Detail Every element of your exit strategy
should be composed your exit strategy from several different plans.
- succession. If you buy, sell, share or dissolve a business, there are a number of issues and regulations that aware of.Refer our Legal Requirements-exit section for more information.
- operating plan. Depending on the type of follow-up have to be in the eye need your business should have a plan of operations that includes contingencies for legal and contractual obligations and employee termination. See our Operations Management exit section for guidance.
- personnel plan. If you have employees, you must be aware of and consider to be their rights, if you plan to sell or solve your business.Refer our Human Resources Exiting section for advice.
- market research plan. If you plan to leave your business, you can market research to understand the value that could bring your business, if you put it up for sale. Check out our market research Exiting by section, as marketing research to prove the value of your company.
- marketing plan. Depending on your particular circumstances and reasons for the liquidation and your timeline, you may or may not be able to get full value for your assets and inventory. Advance planning, you can be better prepared. Consult, if and when you need to liquidate your company our marketing sales-exit section for some strategies to get the most value.
- budget. The sale of your company, it broadcast to your family members or others, or close for good (either by dissolution or bankruptcy), triggers a series of financial events that you need to solve. Consult. To our finance section for guiding exit
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