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4 Reasons to Consider Selling Your Business in 2021

June 17, 2021

Like many business owners, you may have spent more time over the last year focused on keeping your businesses afloat and navigating rapidly changing public health orders, rather than planning your exit strategy. However, a rebounding economy, the prospect for tax hikes, and buyers flush with cash have many business owners thinking about selling. Below are four reasons why you may want to join them and cash in now.

1. Like many business owners, you may have spent more time over the last year focused on keeping your businesses afloat and navigating rapidly changing public health orders, rather than planning your exit strategy. However, a rebounding economy, the prospect for tax hikes, and buyers flush with cash have many business owners thinking about selling. Below are four reasons why you may want to join them and cash in now.1

2. Like many business owners, you may have spent more time over the last year focused on keeping your businesses afloat and navigating rapidly changing public health orders, rather than planning your exit strategy. However, a rebounding economy, the prospect for tax hikes, and buyers flush with cash have many business owners thinking about selling. Below are four reasons why you may want to join them and cash in now.2

3. Capital investments are costly. While the United States has made considerable progress in tamping down the spread of COVID-19, the pandemic will continue to influence how business is conducted in the months and years ahead. Many business owners are taking the opportunity now to make substantial capital investments for ventilation and HVAC system upgrades, expanded office and indoor dining space, and other measures to help head off future business disruptions. However, if you’re thinking about selling now, you may not want to expend that capital.

4. Tax hikes may be on the horizon. President Biden ran on a platform that included raising levies on capital gains and ordinary income for taxpayers earning more than $400,000, as well as the federal statutory tax rate for corporations, to help pay for a large infrastructure bill and related proposals in the coming years. Keep in mind, these are only proposals until Congress enacts legislation, which could take months or years, or not happen at all. However, many business owners are considering the potential impact that higher taxes could have on business income or the future sale of a business.

If you would like to learn more about the importance of having an exit strategy in place that considers these and other factors impacting business owners or want to discuss your unique business situation, call the office to schedule time to talk.

1 http://www.bizbuysell.com/insight-report/? utm_source=inc&utm_medium=referral&utm_campaign=inc04282

2 http://www.inc.com/bob-house/should-you-sell-your-business-in-2021.html

 

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