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Considering emigration? How to sell your small business
Small business owners in South Africa are constantly approaching Pavlo Phitidis (founder of Aurik Business Accelerator) for advice on selling their businesses so they can emigrate.
Most are horrified when they realise that they won’t get close to what they need to emigrate.
A quick sale is also highly unlikely.
Their remedy is twofold, advises Phitidis.
-
Reshape the business from a lifestyle business into a saleable asset.
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Research to better understand the environment of business here in comparison to wherever you intend to move to.
These “remedies” often result in a would-be emigrant opting to rather stay, says Phitidis.
Reshaping a business in this way often results in new, faster growth (potentially outperforming what you would’ve achieved in another country) which in turn moves prospective emigrants to rather stay.
The Money Show's Bruce Whitfield interviewed Phitidis.
For more detail, listen to the interview in the audio below.
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