Entrepreneurs neglecting exit strategies, says Deloitte
The UK's entrepreneurs aren't giving enough thought to how they will exit their businesses, according to a report by advisory firm Deloitte.
According to the firm's Entrepreneurship UK report, 39% have no exit plan in place and 35% are waiting for a third party to approach them.
A Deloitte spokesman commented:
"An entrepreneur’s first objective understandably tends to be to create a business upon which to build value. They will often only consider selling that business when first approached by a potential buyer. This can leave them unprepared and at a disadvantage. Having a clear exit strategy in place from the outset may sound counter-intuitive but is, in fact, essential."
