I was ready to exit my business, then COVID-19 happened
April 13, 2020On the whole, it is not a great time to begin selling a business. Companies and consumers have retrenched, and the market contraction is expected to be very sharp and deep between the first and second quarters of 2020. Financing markets will be difficult to access, as capital providers struggle to adequately assess risk of investments. Until companies can forecast their earnings with any degree of certainty, traditional deal activity will be at a virtual standstill.
Emotions often take over in difficult markets, confidence wanes, and urgency to panic can take hold. Your plan to exit your business this year has been derailed by COVID19 and the lockdowns that followed. What should you do?