When to consider business exit?
At times business partnerships run their course. Be it retirement, interstate relocation or a divergence of ideologies, there can come a time when shareholders of a corporate entity seek a return of their investment in order to transition to a new stage in their careers. Sometimes a director may have lost their passion for the business, they no longer wish to continue and are ready to move on to the next stage of their life.
Why do I need a controlled exit?
At times business exit can be simply undertaken via another shareholder purchasing the exiting party’s shares, however, in some instances this does not bring the finality required.
Another option would be to simply close the doors, turn the lights off and walk away. Again - this might not achieve the best result for all stakeholders.
Having a plan and exiting a business in a controlled and organised manner will be better for all concerned.
Our goal is to maximise the return from the realisation of the company’s assets. Debtor collection is an important part of the process. Liquidators usually find it much harder to collect debts after liquidation than the business owner does prior to appointment a liquidator.
A liquidator would likely sell any assets of the business through an auction house. Again, sale of assets by the owner to a willing third-party is likely to achieve a better return.
There are also many of little things that need to be done in order to reduce the stress of a business exit. Things like cancelling the electricity account, cancelling other service providers, like phone and internet carriers, terminating hire agreements, issuing PAYG Summaries to staff, and the list goes on.
Our support and well-established procedures can help in maximising your return and minimising your stress when the time comes for you to exit your business and move on with your life.