Business succession for small to medium enterprise businesses ("SME's") has become a hot topic. Many SME business owners consider the sale of their business to be their retirement "nest egg". With the first of the post-war "baby boomers" now approaching 60 and many SME business owners now approaching retirement, some SME business owners are turning their minds to developing a business exit strategy. However, statistics compiled by Hayes Knight, Chartered Accountants and others suggest that a significant proportion of the SME sector is yet to actively engage in the succession process.
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