Becoming an entrepreneur through business ownership transfer and the growth path of an existing business
Considering entrepreneurship? Acquiring an existing business or its operations is an effortless way to start the entrepreneurial journey. The product and service portfolio, customers, employees, partnerships, and cash flow are all ready. The selling entrepreneur often remains to assist the new entrepreneur at the beginning to ensure the smooth continuity of business operations.
Selling one's own business is usually an emotional and crucial matter for the seller, and the successful transition is beneficial for both parties. Various financing options are available for business acquisition, such as from Finnvera or your own bank. If you lack prior entrepreneurial experience, we can help you get started with aspects related to purchasing an established business.
For thriving businesses, business acquisitions should be part of the toolkit for growth-oriented companies. There are hundreds of entrepreneurs in our region looking to sell their businesses, and successors are being sought for operational businesses. Why not leverage business ownership transfers to secure the continued vitality of businesses, ensuring the region's vitality through the activities of growing and successful businesses?
Successor from withing the close circle
If you have a successor for your business within your family, in situations involving generational transitions, we can assist you in getting started and find a suitable expert to progress the process. Feel free to contact us courageously and well in advance. Succession planning can be a multi-phase process, and a well-planned ownership transfer process, often taking several years, leads to the best outcomes for both parties.
Initiate the planning for the continuity of your business well in advance of the planned transition time. Ensuring the ongoing sale readiness of your business is crucial when planning for succession. A potential buyer quickly gains an understanding of what they are acquiring, and a well-designed business sale positively influences the purchase price from the seller's perspective. Potential buyers may appear unexpectedly, so be prepared if you are considering selling in the near future.
To ensure the sale readiness of your business, consider at least the following:
- Real-time and comprehensive financial reporting and cash flow forecasts
- Functional and modern processes
- Up-to-date contracts with customers and suppliers, and careful archiving of them
- Differentiation of personal brand from business brand
- Building a quality network around you, providing added value
- Effective inventory and asset management
- Continuous development of your business operations, looking towards the future despite plans to exit
What is changing ownership, and what is the right sale price? Is the entire business for sale or perhaps just a part of it? The sale price is composed of many factors, but future revenue expectations are often a crucial factor from the buyer's perspective in forming the sale price.
During a business sale, due diligence inspections can be conducted to ensure the realism of the asking price and the buyer's desire to carry out the planned business acquisition. The actions related to sale readiness also serve as a basis for these inspections. If you are in the role of the buyer, we can guide you to a suitable expert in our network for conducting due diligence inspections. For the seller, business valuation can be arranged through our network of specialized experts.
Whether you are in the role of a seller or buyer or considering generational transition, we guide you to the best of our ability in a successful ownership transfer with the support of our partners and experts. Please feel free to contact our business experts. All discussions are naturally confidential, so do not hesitate to get in touch.