Research by Brown Shipley has revealed that 38% of UK entrepreneurs are planning early business exits due to tax changes in the October 2024 Budget and rising National Insurance contributions. Despite market uncertainty, more entrepreneurs are looking to secure external investment and prioritize succession planning. A notable generational divide exists, with younger entrepreneurs more inclined towards family business retention and employee buyouts. The confidence in financial planning among entrepreneurs has also increased significantly, reflecting a proactive approach in wealth management amid changing policies and economic challenges.
More British entrepreneurs are eyeing early exits from their businesses due to shifts in tax policy and economic uncertainty, reflecting a significant change in strategy.
38% of UK entrepreneurs are planning to sell their business sooner than expected, prompted by tax changes in the October 2024 Budget.
Over a third (36%) of respondents intend to sell their business outright to crystallize value and manage personal wealth, a significant increase from earlier in the year.
Younger entrepreneurs (49% of 18-34-year-olds) are more inclined towards succession planning within the family, indicating a generational shift in business ownership strategies.
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