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Closing a Business Properly The orderly wind-down.WHAT ORDER TO WORK INTake advice Establish the full position Inform those... Closing a Sole Trader or Small Operation Winding down without a company.WHAT DIFFERSThere is no separate legal person, so debts are... Deciding to Close a Business When ending is the right decision.WHY IT DESERVES SERIOUS CONSIDERATIONContinuing a failing... Finding a Buyer Who might buy.WHO BUYS SMALL BUSINESSESCompetitors Suppliers or customers, integrating... Handling Debts When Closing What is owed.WHAT TO ESTABLISHEvery debt: who, how much, secured or not, personally guaranteed or... Handling Due Diligence as a Seller When the buyer examines everything.WHAT THEY EXAMINEFinancial records and their reliability Tax... Handling Partnership and Shareholder Exits When one owner leaves.WHAT TRIGGERS ITDisagreement One party wanting out Retirement or illness... Managing the Transition After a Sale What happens after completion.WHAT THE BUYER NEEDSKnowledge transfer Introduction to customers... Negotiating a Business Sale Agreeing terms.WHAT IS ACTUALLY NEGOTIATEDPriceStructure: what is bought, and how paidConditions... Planning for the Unexpected If something happens to the owner.WHY IT MATTERSMost small businesses would stop if the owner... Preparing a Business for Sale Work that begins years ahead.WHAT TO ADDRESS FIRSTRecords.WHAT THAT MEANSAccounts prepared... Selling or Closing a Business: Everything That Matters, Briefly The whole category in one page.A BUYER IS PURCHASING FUTURE PROFITS THEY CAN EARN WITHOUT YOUIf... Selling to Employees or Management Transferring to the people inside.WHY IT APPEALSContinuity Buyers who understand the business... Stepping Back Without Selling Keeping the business but not running it.WHY MANY OWNERS WANT THISThey want the income without the... Transferring a Business to Family Succession within a family.WHAT MAKES IT DIFFICULTFamily relationships and business decisions... Understanding Business Valuation What a business is worth.WHAT DETERMINES VALUE ULTIMATELYWhat a buyer will pay.WHAT APPROACHES... Understanding Tax on Exit What the transaction costs.WHY IT MATTERSTax treatment can change the net proceeds... Understanding Warranties and Indemnities What you promise the buyer.WHAT A WARRANTY ISA statement that something is true.WHAT HAPPENS IF... Understanding What Makes a Business Saleable Why most small businesses cannot be sold.WHAT A BUYER IS ACTUALLY BUYINGFuture profits they can... Understanding Why Businesses Change Hands The reasons for an exit.WHAT PROMPTS AN EXITRetirement Ill health Wanting to do something else An...

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