Selling your business might sound like the opposite of progress, but actually, selling up at the height of a business’s success using a specialist can help you to free up the time and funds to explore other avenues. You might be struggling to think of examples of what we’re talking about, so we’ve come up with this comprehensive list of 3 great, worthwhile things you could do following the sale of your business.
1 – Business Reborn
2014 is set to be a year of economic growth in the UK and across much of the world, as many nations start to get back on track following the economic downturn which began in 2008. This potentially makes 2014 a wise time to start up a new business. Choosing just one stand-out figure from a report by the BBC, GDP was initially expected to grow 1.4 percent, according to the Office for Budget Responsibility, but according to new data, it is now expected to grow an astonishing 2.4 percent. This is great for the country, and also presents a good opportunity for those keen on pursuing new business ideas, as there will be more investment opportunities available.
2 – Engage With Your Community
Selling your business affords you some valuable space and time to pursue other avenues in your life, as well as facilitating new business opportunities, meaning that if you’re looking to help your community, now may be a good time to do so. If you’ve been working in a particular niche for a long time, you might have experience enabling you to coach or consult various less-experienced people in your community such as school pupils, college leavers and university students. Giving up your time to help these people not only provides a valuable public service, but it will also give you a strong sense of personal satisfaction that you may not necessarily get from a work environment.
3 – Alternative Investments
The capital that you free up from selling your business could be better spent investing in other areas rather than back into a new business venture. One of the current best options available would be in the buy-to-let market, as property prices are still relatively low, but are on the rise. This means that if you have the money available, you could get a great ROI simply by spending it in the right way, and you might be able to retire earlier than expected.