When a business faces challenges that may cause a decline, a business owner must make the decision to fix, sell or close.


Fix, Sell or Close

Even thriving businesses can see their growth stall and flatten. Businesses need to be able to adapt to the continuous changes that are part and parcel of business life - increased global competition, new products, new technologies, changes in customer demand and even unforeseen events, such as the failure of a major customer.

Business owners that are faced with these challenges need to plan and actively manage their business to specifically address the changes that they face. Business owners need to assess their circumstances and identify the steps that may turn around a declining business.

Our consultants can advise you during this phase and prepare a plan best suited to your circumstances. A business owner has several options to consider:
• Fix: What is the best response to the challenges that your business faces? Do you introduce new products or services? Can you address your costs, quality or market profile. Do you tackle a competitor head on with an aggressive marketing campaign? If you cannot meet a competitor’s price, can you differentiate yourself?
• Sell: There are times when you might need to sell your business at this stage. A different owner may have the resources or complimentary offering that will enable the business to be revived. Finding the right potential purchaser and taking the steps to optimise your sale price at this time are your key objectives.
• Close: Liquidating assets and closing a business is a difficult decision for most owners. Business owners need the right analysis, guidance and planning, to carefully manage their obligations and liabilities.