Family business owners are happy to sell their firms and few miss owning it after the sale, according to a new survey.
The report by KPMG, which challenges the stereotype of the emotionally involved family business leader, found that only 8% regretted their decision to sell.
Three quarters of family business owners said they would not consider taking their business back if given the opportunity.
“What was surprising to us was the fact that so few sellers missed their business post-sale,” said Adrian Dray, partner at KPMG.
“Emotion is a critical element of all our lives, but these owners have successfully divorced emotion from commerciality. Sellers are excited to move into the next phase of their business life,” added Dray.
According to the report, a major reason why so few miss their business once it is sold is because they retain some kind of supporting management or consultancy role.
Over a third of those surveyed were happy to remain attached to their former business after being freed from any burden of ownership.
The report points to a healthy exit market with 84% of those who sold family businesses saying they felt they received a good price for the company.
In light of this, a further 52% of current family business owners asked said they would sell their business if a tempting offer came along, even if they were not actively seeking to sell.
“The decision to sell is about price and timing and in our opinion both have to be right to describe an offer as tempting,” added Dray.
© Crimson Business Ltd. 2006
