As increasing numbers of small business owners eye retirement after years of economic struggles, lack of investor interest can be a rude awakening.
According to a Globe and Mail report, the growing number of small business owners who face the same predicament reflects not only a global phenomenon, but a form of economic crisis never before seen.
The struggles facing small business owners who’ve been dreaming of cashing in on a comfortable retirement are characterized by disheartening statistics, including:
Marketability appears to be a particular issue for companies valued at less than $30 million, with retail and restaurants being the most hard hit and hardest to sell.
For those still hopeful of retiring on the proceeds of their life’s work, here are a few steps that can greatly enhance your chances:
With seemingly fewer options available, some small business owners can take solace in the fact that a new option emerged in March in the form of Halifax-based SeaFort Capital Inc.
While few large private equity firms take an interest in small businesses these days, SeaFort plans to buy controlling interests in small businesses that earn between $2 and $10 million and whose owners are nearing retirement age.
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