Third of UK Businesses Looking to Sell in 10 Years
Third of businesses looking to sell in 10 years timeOne third (33%) of privately held businesses in the UK expect to see a change of ownership in the next 10 years, according to Grant Thornton?s International Business Report (IBR).
The survey of 7,200 business owners across 32 countries uncovered a global average of 28% of firms expecting a change of ownership, with South Africa and New Zealand topping the table at 52% and 51% respectively. At the opposite end of the scale, only 10% of Indian and 11% of Russian business are expecting to see widespread divestment within the next decade.
Interestingly the proportion of UK businesses expecting change has remained static since 2003, however, the uncertainty surrounding Alistair Darling?s anticipated crackdown on capital gains tax relief could see a dramatic increase in the number of privately held firms selling up.
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