The decision to sell a business is often a difficult one because of the profound personal and financial impact.
There are many influences which bring business owners to this point, including:
- Exposure to business risks, often aggravated by personal guarantees on loans.
- Heath concerns.
- Desire for retirement.
- Divorce or dissolution of partnership.
- Desire to pursue other business interests.
- Lack of sufficient working capital.
- A need within the company for new skills, new resources, or a new philosophy to cope with ever changing economic forces, government regulations, and competition.
These, as well as a variety of other considerations, are all valid reasons for contimplating a sale. They do not imply failure or willingness by the owner to accept less than a fair price for the business.