Selling a Business During the COVID-19 Pandemic: You Want to Sell, But Is It the Right Time?

With all that is going on, selling a business now is something you need to really think about. Here are four points to weigh to help you decide whether to go through with it – or not.

Bike shop owner rolls a bike out the door
(Image credit: Getty Images)

There is a popular saying about best laid plans often going astray. Business owners are experiencing firsthand the derailing of plans in this unprecedented and unpredictable 2020. Those with plans to market their business for sale this year are left particularly in a lurch. At a time when many industries are struggling — and some are unexpectedly booming — the decision to put a business on the market is more difficult than it was when the economy was predictable, or at least stable.

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Patricia E. Farrell, Attorney at Law
Partner, Meyer, Unkovic & Scott

Patricia Farrell is a corporate law attorney in Pittsburgh. With a primary practice in business services, she regularly represents privately held businesses in mergers, acquisitions, divestitures and other major transactions, both in the United States and in Europe, Asia and Australia. She also has a broad corporate practice where she assists with corporate governance as well as succession planning for business owners and a variety of other day-to-day business issues.