Exit Strategy: Don't Let Personal Motivations Conflict With Rational Business Decisions Business owners trying to get out now must execute sound strategies to maximize the value of their companies.
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It is more than just a bit of demographic trivia that around 10,000 Baby Boomers reach retirement age each day. Given that Boomers owned an estimated 2.34 million small businesses as of 2019, this demographic trend, together with the economic consequences of the COVID-19 pandemic, all but ensures serious reverberations for the nation's economy. This is especially true for business owners who feel motivated to sell their business or retire right now.
Emotions are high
Entrepreneurs who want to sell today face major obstacles, including concerns regarding immediate-term liquidity, ongoing profitability and even the viability of their business model in the post-COVID economy. Prospective buyers are increasingly reluctant to accept the risk associated with a small business acquisition.