As a business owner, you’ve likely dedicated a significant portion of your life nurturing and growing your business into a success. And now, regardless of the reason — and there are plenty — it’s time to sell. What are your next steps? What are the best practices to understand before diving in head first?
Some of your initial questions will revolve around how to convert your ownership equity into liquidity. You’ll need to consider the value of your company in the current marketplace, the state of your organization’s accounting records, the best deal structure from a tax perspective and how (and when) to facilitate due diligence. On a personal note, how will the sale impact your personal income tax and cash flow?
While a solid advisory team of accountants, corporate bankers, attorneys and financial advisers will guide you through the process, going into it with a fundamental understanding of these key considerations will help empower you to be an integral part of the team determined to maximize the value of your sale.
Contact Marie Brilmyer, Phil Ryan, Jim Lisy or a member of your service team to discuss this topic further.
Cohen & Co is not rendering legal, accounting or other professional advice. Information contained in this post is considered accurate as of the date of publishing. Any action taken based on information in this blog should be taken only after a detailed review of the specific facts, circumstances and current law with your professional advisers.