"Pretium Solutions Pty Ltd" BiziNet™ Articles

The Current Business and economic environment is tough. Business owners everywhere are struggling and relying on Government stimulus to help them to persevere throughout the crisis. Keeping the door open and employees employed is a priority of the Government and there are many businesses who have weathered the current crisis on the back of Government Stimulus. Why would anyone want to run a business or perhaps more surpassing, why would anyone want to start a business?

Now more than ever it is critical for your business to address the causes of its cash flow issues. There is a danger that unsustainable businesses are being propped up by the current availability of government stimulus, Reliance on stimulus payments is a short-term solution. A band-aid fix, ignoring the treatment of the real problem.

Why do we say that Government assistance and stimulus packages are not the answer for your business? The reason is simple. They do not fix the underlying business issues that are threatening to derail your business.

While they are a welcome relief in a time of crisis, they are a form of pain relief. They ease the pain but do little to fix the real problems with your business.

Starting a new business puts you in an exciting frame of mind that's all about creating new beginnings. When you're just beginning, thinking about the end is probably the last thing on your mind. What you need to realise is that a good business plan is a long-term plan, with both a start and a finish. By planning your business exit strategy before you begin, your journey will be more rewarding, and your business better equipped to deal with future challenges.

If you don't have an exit plan for your small business 12-36 months in advance of selling, you won't maximise its value. Don't settle for less… follow these tips. Most people simply don't contemplate exiting the business when they're just getting started, or even after they're well established. Most business owners figure the end is a long way off, and anything could happen before then. But it's these unpredictable happenings that make having a business exit plan in place even more important.