8/15/2023 0 Comments Sell my businessIf you want to sell, the sooner the better. So, if you fall into the latter category, selling now might be the right choice. Luxury products and non-necessity niches tend to struggle a bit more. Is your business recession-proof? Some industries like grocery, auto repair, and medical products can fare really well during a recession. However, if you’re purely looking at it from a financial point of view, there’s more to consider. If you’re already thinking about cashing out, you definitely won’t have the bandwidth required to survive a recession. If your options are to get out before it gets bad or stay in and fight, you better have some fight left in you. It’s important to know your motives up front. All of these reasons, recession or not, are excellent reasons to consider selling, even in the face of an economic downturn. Oftentimes, people decide to sell their business when they’re tired of running it, nearing retirement age, or they’re excited about a new venture. Is it just the looming recession, or is there more to it? Maybe you started your business with the initial goal of selling it, or maybe your growth has declined and money is tight. Reasons to Sell:įirst, it’s essential to ask yourself why you’re looking into selling your business. Let’s take a look at the pros and cons of selling your business during a recession. There are several things to consider, and your ultimate decision could be based on situational circumstances. Should you hunker down and try to weather the storm, or should you jump ship now before the going gets tough?Īs with most complex business topics, the answer isn’t an easy one. BBVA projections indicate a 60% probability that a recession will begin in the next 24 months, and Deliotte points out that a slowdown is “increasingly likely.” As a business owner, a looming recession can be difficult and strenuous. is heading towards an economic recession. Many economists are suggesting that the U.S.
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