Exit, Succession & Transaction Planning
Preparing for life after your business.
For most business owners, their business journey will ultimately end with them handing the keys to the kingdom over to someone else, and of course, you will want to hand the business over in the best possible state.
The personal investment of blood, sweat and tears by an owner will mean that this is as much about protecting the future of the business and your employees as it is about protecting your own future.
WR Partners can help you throughout your whole journey from the tentative first steps towards deciding on your exit route, through the hard work of preparing the business to maximise your return to the day when ultimately you sign it over to its new owners.
Developing your exit strategy
By going through our strategic planning processes we establish where your business is now, where you need it to get to in order to meet your goals, and what actions you need to take to get there. We will help you build a plan and then support (and hold you accountable) for implementing it.
Understanding the value
Understanding the value of your business now is important but only half the battle. The question you really need to answer is “what value do I need to get from my business in order to realise my goals?” Only by understanding that can you really determine the optimum point at which to exit your business.
Bridging the gap
Often current value can be some way short of what you need – we work with our clients to help them grow, develop and focus their business so that they can bridge the gap between where the value is now, and where it needs to be.
Getting your house in order
Whether it be a sale of a business or passing it on to the next generation, making sure some of the less glamourous aspects of running a business are in order is key to a successful exit. This can include ensuring your accounting systems are up to scratch, building high quality, meaningful management information reporting or ensuring that your employees are all under contracts that are fit for purpose and many other aspects. Failing to attend to any of these aspects can lead to significant challenges as your departure from the business gets closer.
Building your team
If you are looking to hand the business on to the next generation or to management, you need to be sure that they have the skills to be able to take the business forward into its new future. If you are looking to sell, having a strong, high-quality management team can add hugely to value and minimise the extent to which you will be tied into the business after a sale. We can assist you in identifying and bridging skills gaps, and retaining and incentivising key employees to ensure your management team is fit for the future.
Tax planning
Building a great business and maximising its value is key, but on a business sale or a family succession, an unexpectedly high tax bill is a very quick way to take the gloss off what should be the crowning moment of your working life. By working with you throughout your journey to exit our tax specialists can ensure that you fully understand the tax outcomes of your exit and make sure you access all of the tax reliefs that are available to ease that burden.
Dealing with your buyer
No matter how much preparation you put into getting your business ready for sale, the actual process of selling your business is a stressful and challenging experience (although much less stressful if you are prepared!) Whether it be dealing with detailed and comprehensive due diligence requests, reviewing the reams of legal paperwork that accompany any deal or responding to last-minute issues raised by the buyer, we can support you through the sale process to take as much of that stress off your shoulders as possible.
Exit/Succession Planning Diagnostic
Use our diagnostic tool to determine the areas of your business that are thriving and those that require further work in order for your business to succeed as it transitions to new owners.
Our Offices
The 5 WR Partners offices that are spread throughout the West of England and West of Wales are staffed with expert consultants who can offer their experience in providing you with your exit strategy for your business. If you would like to learn more about a specific office, please visit the respective link on the right, visit the office or give us a call.
Interested in learning more?
If you would like any more information about our services, don’t hesitate to get in touch.