Starting and selling a business

Economic outlook

For anyone planning to start a new business, the UK’s longterm relationship with the EU should be of prime concern. Although the December general election result has brought a reprieve, with the transitional period running to the end of 2020, a subsequent no-deal exit has not been completely ruled out.

However, even assuming an orderly exit from the EU, the UK’s economic growth for 2020 is only forecast at around 1% compared to a long-term average of 2%.

When it comes to selling a business, it doesn’t matter whether you are developing a business idea to quickly cash in before starting all over again (the typical serial entrepreneur), planning a smart career move (with the successful sale of a self-started business looking very good on your resumé) or are in for the long haul – planning your exit strategy at an early stage will ensure you don’t pay more tax than necessary.