William Buck’s Exit Smart Survey is an independent report surveying Australian small-to-medium business owners and c-suite executives, to measure their business’s level of exit readiness.
With approximately 300 participants in the latest survey, the report focuses on the issues faced by the mid-market when preparing their exit.
About the respondents
Respondents were placed into generational categories based on the following definitions:
- Builders: born pre-1945
- Baby Boomers: born from 1946 to 1964
- Generation X: born from 1965 to 1979
- Generation Y: born from 1980 to 1997
The survey revealed that 53% of respondents were at least 54 years old, most of who were born in the 1946-64 Baby Boomers generation.
According to the William Buck Exit Smart Survey, 77% of baby boomer and builder generations respondents are preparing to exit their current business in the next decade, with more than half exiting in the next five years. This mass exodus means there’s increased competition at sale and and it could be harder for owners to sell.
Please find below various strategies when considering exiting your business.