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Some owners choose to sell because they feel as though they’ve taken the business as far as they can, and they need someone else to step in and advance the company. They might not be ready to retire, but they realize that they’re not able to run the same company anymore.
More often than not, a growing company usually requires more capital than what the business generates from existing cash flow. A growing company might need a reinvestment when cash flow lags a bit behind. As a result, an owner might feel as though they cannot afford to put their own money at risk. They might need a new owner or perhaps a new company to merge with in order to secure success and advance the company.
Some business owners might seek someone else to take the reins when their business venture moves from an entrepreneurial investment to a professional company. Bringing in someone with the expertise to manage a larger team, or even a parent company can help continue the business’s upward growth.