UHY Advisors embraces two mantras:
Without a plan most businesses do not succeed.
Without an exit strategy many businesses will fail to transition or transact.
Having made the hard decision to start a business or in some cases to continue a business, many business owners focus on the day-to-day and repeat the cycle for days and years if not decades later without a thought about how will I exit?
The point is very simple for a business owner – Will I be able to live the lifestyle I have become accustomed to over my business life in retirement? Will I be able to realize the value of my business? Will I be able to preserve and protect value until I decide to retire, sell or otherwise transfer my business?
The Transition or Transaction question above merely states the obvious – will a business owner transition the business to either a family member or key person(s) or will it transact to a third party?
About 60 percent of privately owned businesses are owned by baby boomers and just above 800,000 firms have a value between $5 million and $200 million. For most owners, there are only 8 exit options and Exit Planning can begin as soon as today and as far out as 15+ years. No matter what, the time to think about exit planning is now!
Our collaborative approach ensures that you, your family and your advisors are part of the process. Having assisted business owners for over 15 years in the Transition or Transaction process, UHY Advisors has the experience to assist you in meeting your goals.