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Trying to Sell Your Business During the Pandemic?

COVID-19 has had a devastating impact on countless Americans since it began spreading across the country in early 2020. Sadly, the pandemic is best summarized by a series of losses Americans have had to unwillingly accept. Those who lost a loved one to the virus are beset by grief. Financial hardship struck many Americans who lost their jobs, or found themselves unable to work due to illness or state mandates. Businesses had to close due to lack of clientele, state mandates, or other struggles. The COVID-19 pandemic has led to uncertainty across the board. For a business owner, it may seem like a volatile time to consider selling your company. It may be the perfect time to do so, however.

Is a Pandemic Really the Right Time to Sell a Company?

It is understandable to be skeptical about whether or not now is really the time to sell your company. There are certain considerations and factors to keep in mind, but selling may just be the best move for you.

If you are around 60 years old -- or the average age of a small business owner -- it may be in your interest to get to retirement with more peace of mind or to get there sooner thanks to some savvy selling. Especially if your company deals with delivery or e-commerce, there is a strong and healthy market where selling now would be lucrative.

Having a proper team, or a certified public accountant can best aid the decision making process. While it may be downhill from here for many, it could be an uphill climb for others. A professional advisor can help you determine what route might be best for you, and if or when would be a safe time to sell.

How to Sell Your Business During the Pandemic

Having a plan before selling will always be the wisest route to take, regardless of a pandemic or a recession or any other financially-impacting season.

Assessing the company’s value and current state is critical to moving forward with the notion of selling. What if your company will not sell for a good price? What if there is still a healthy amount of growth occurring? These questions are important to address.

Focus on your balance sheets and cash flow; good bookkeeping never hurt a company.

Tap into the potential that your employees have by involving them with the process, let them help you decide which route to take. They are an integral part of the company.

Ultimately, the focus should be, regardless if selling or keeping, on the long term growth and the decisions that will make it marketable and healthy, or enduring should you choose to keep it.

Questions Regarding Selling a Company During the COVID-19 pandemic? Call Us

The COVID-19 pandemic has been characterized by the unpredictability and the uncertainty around it. Everyone has lost something. Whether it is simple peace of mind, or a loved one, or a job or opportunity, the pandemic has taken so much. Fortunately, if one is in a position to sell a company, there are at least some options available to make the most out of a bad situation. If you are unsure about which direction or steps to take, we can help. At SAC Attorneys LLP, we care about your success and well-being, and are willing and ready to help you however necessary. Have confidence contacting our staff today at (408) 716-1603.

Client Reviews
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Mr. Cai Is a Diligent Attorney. My sister and I were defendants in a civil litigation case. We hired James Cai and his law firm, SAC Attorneys LLP. Mr. Cai is a diligent attorney and responded to our questions in a timely fashion. He and his staff were very helpful in keeping us informed of the proceedings of the case and in explaining each step. Mr. Cai is also very conscientious of fees and costs, and avoided unnecessary charges. The results of the Summary Adjudication sided with us. The Court Trial resulted in the “Final Statement of Decision” and “Judgment after Court Trial” overwhelmingly siding with us. Cynthia F.
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I Am Truly Impressed. After spending a significant amount of time, money and efforts with my previous counsel at a larger law firm without getting meaningful results, I transferred my employment matter to SAC Attorneys LLP. The attorneys there were able to understand the complex situations of my case and put together an aggressive litigation strategy. We were able to file a compelling complaint within a week and forced the opposing party, which was represented by one of the largest law firms in California, to make a substantial settlement offer shortly thereafter. I am truly impressed by the no nonsense and results oriented approach by SAC Attorneys LLP attorneys. A job well done! X. Gao
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They Took Time to Understand Our Technology. I am the founder of a bioinformatics start-up in the Silicon Valley and chose SAC Attorneys LLP as our corporate counsels. Their attorneys have great experience with high tech start-ups and were able to offer a highly competitive service plan while not sacrificing a bit of their quality of services. They took time to understand our technology and provided value added services by introducing investors and job candidates to us. We regard our attorneys at SAC Attorneys LLP not only as our legal advisors but also our venture partners. Dr. Pete S.