The world is unpredictable. Could now be the time to sell my business?

In the current climate of political change, it's hard to know how our lives will be affected. And what the changes will mean for your business, now and in the future. You may want to sell now. You may want the business to stay in the family. Or you may want something in between.

When you’re thinking about handing over your business, it’s a good idea to start planning as early as possible. But there’s a lot to consider. Start by asking yourself these three questions:

You may not intend to step back from your business in the near future. But having a long-term plan can eliminate a lot of question marks. Could you make a well-informed decision in the event of an offer to buy your business?

Every entrepreneur will want something different. You could sell your business. You could pass it along to your family. Or you might not want to give them full control just yet . There’s no right or wrong answer, just what’s right for you.

Selling your business is a life changing event. Regular income from your business will transform into one large lump sum of money. You’ll also have to decide how best to step back from your role running the company. How will you handle both?

*Family Wealth Transfers Report, Wealth X, 2015.