Talk to any experienced Business Sale Adviser, Solicitor or Accountant and they will confirm that business buyers have remained active during lockdown. Acquirers have continued to seek out complementary business acquisitions, with many still willing to pay a premium for the right opportunity…
We have already completed a record number of business sales this year and fully expect the market demand to remain buoyant for acquisitions in the £1m to £10m deal value range during 2021.
A current concern that holds back many business owners considering an exit, is the misconception that the COVID lockdown has created a ‘buyers market’ with many entrepreneurs thinking it’s not a good time to start the business sale process. Where this may be the case for some unfortunate business owners who have been hit hard by the lockdown, in my experience this is not a market-wide issue.
Many businesses have been able to adapt and change, some have even prospered during the pandemic. Small businesses are dynamic, this is their advantage in difficult times. Any business that can demonstrate a future beyond COVID will continue to prove attractive to larger trade buyers.
Don’t get me wrong, if you have the energy, motivation and resources to drive your business forward over next 5 to 7 years, you should forget about selling now. However, if this is not the case, perhaps you were originally planning your exit or retirement before 2023 or you have other pressing reasons to sell, don’t panic, you still have real options.
A successful business exit takes time, patience, and needs to follow a proven marketing and negotiation strategy. Take positive action, speak to a professional in confidence to better understand your options. I am a great believer in nothing ventured, nothing gained, so perhaps there is no harm in talking, but whatever you choose, do not let COVID ruin your exit plans.
If you wish to receive confidential advice regarding your business exit, contact our team at Vexus Corporate today.
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