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New business course for potential sellers

Choosing the right exit: new business course for potential sellers

Having owned and operated a successful business, how you do leave it - and yourself - in good shape? The entrepreneurial Icehouse partnership has created a course to meet the growing need for know-how.

Called "Moving On," the course is the first in New Zealand to help owner managers plan effective exit strategies and to manage this major life transition. Chairman David Irving says 'Moving On" responds to the need identified by owner mangers participating in the Icehouse business growth programmes.

"Depending on whether the exit has been conducted well or poorly there can be marked difference in financial and lifestyle outcomes," says David Irving. "A good exit can leave the owner of the business with a strong sense of achievement and with the reassurance that there's a fulfilling life ahead. A bad one can leave you feeling that the motor's still running with nowhere to go. "Moving On' addresses business and financial issues as well as the health and wellbeing of the executive.

"There has to be a good fit for the owner manager who is selling, for the buyer and for the business. Yet there is ample evidence that New Zealanders in business don't address this issue adequately and comprehensively."

University of Auckland Business School academics have worked with The Icehouse in partnership to develop 'Moving On.' Business School instructors, representatives from Icehouse partners and specialist practitioners will equip participants with the know-how to achieve the best outcomes for the business and parties involved. Participants also learn how to produce a personal plan to manage the transition from owner operator to a profitable life ahead.

"This programme is for successful owner managers who have a significant equity stake in their business or substantial revenues or assets and may want to capitalize on untapped growth potential," says David Irving. "Moving On applies to operators in all sectors ranging from agriculture and manufacturing to retail, distribution and services. And it applies to both importers and exporters.

"People in business who are keen to maximise the financial payback for their efforts over the years and to ensure a smooth transition will be benefit from 'Moving On.' Exiting owner managers, more often than not, feel responsibility toward long-serving employees and loyal customers. The course addresses all these issues. Its underlying objective is to add value to the New Zealand economy."

The "live-in" course begins on 8 May and takes place over three weekends in May, June and July to allow participants to continue to run their business. Courses are limited to a maximum of 20 participants to stimulate practical knowledge through interaction with business leaders and academics. Invited industry experts will also share personal experiences.

The Icehouse (The International Centre for Entrepreneurship) has built a reputation for innovative business growth programmes for owner managers and start-up businesses. It was established in August 2001 by The University of Auckland Business School and is a collaborative partnership between Bank of New Zealand, Carter Holt Harvey, Telecom New Zealand, The Boston Consulting Group, Chapman Tripp, Deloitte Touche Tohmatsu, Microsoft, HP and the Business School. Its focus is on creating more successful international New Zealand companies through education, business acceleration through its incubator, and through research.

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