Ways to exit a business
There are various ways to exit a business including selling, closing and succession. Federal and State Governments have a range of resources to help you navigate exiting your business. It is important to be prepared when you choose to exit your business, including knowing the value of your business, and understanding your financial, legal and operational obligations.
Selling a business
The best time to sell your business is when sales and profits are strong. This helps generate interest from buyers, and allows you to place a higher value on your business. It can take up to 2 years to plan a successful business exit, so it's a good idea to use this time to strengthen your business and maximise its value.View
How to sell your business
Learn what steps you need to take if you're about selling your business and the tasks you may have to undertake. Follow the proposed steps to guide you through the process to help you get it right.View
Closing a business
Whether you are closing your business because you are retiring, or the business is failing, it can be a challenging and emotional experience.View
How to close your business
This information explains the steps you need to follow to close your business. You will learn what processes you need to carry out, your legal and tax responsibilities and who you’ll need to notify when you close your business.View
If you have spent many years developing and growing your business, selling it on the open market may not appeal to you as much as passing it on to someone you know and trust. This process is called succession, and a succession plan is the strategy you use to make it happen.View
Business Support Modules
Business Moreton Bay Region has developed a large series of support modules to help you develop your skills for all areas and levels of business. The below modules are designed to assist business owners when looking to exit a business. This online learning is delivered by industry professionals and completely free to access.
The following presentations are now available:
The following articles relate to selling and closing a business.
Family business succession planning