Good morning all,
I have been involved in a small business with one other shareholder for a long number of years now and I want a change. Family businesses can be quite intertwined and complicated and my desire to exit may possibly cause some acrimony. Its a good solid business (turnover around 200K) and should continue to do well.
How do I go about valuing and selling my share of the business. We have shareholders agreement in place which stipulates that I must offer my shares to the other shareholder before offering to a third party. We serve quite a niche market so the other shareholder is the obvious choice. I'm wondering what would happen if they were unwilling or unable to buy my share. Do I need a solicitor or an accountant or both ?
Any advice would be very much appreciated. Thanks in advance.
I have been involved in a small business with one other shareholder for a long number of years now and I want a change. Family businesses can be quite intertwined and complicated and my desire to exit may possibly cause some acrimony. Its a good solid business (turnover around 200K) and should continue to do well.
How do I go about valuing and selling my share of the business. We have shareholders agreement in place which stipulates that I must offer my shares to the other shareholder before offering to a third party. We serve quite a niche market so the other shareholder is the obvious choice. I'm wondering what would happen if they were unwilling or unable to buy my share. Do I need a solicitor or an accountant or both ?
Any advice would be very much appreciated. Thanks in advance.