“Emotional attachment” has been cited as the biggest challenge for entrepreneurs contemplating selling their business, new research from Lombard Odier has shown.
The report, Entrepreneurs’ Views 2021: Business Lessons, Wealth and the UK Outlook, surveyed 250 UK-based entrepreneurs, with investable assets of at least £3 million.
Of these, 55 percent said that emotional attachment was the most significant challenge they faced when selling – an aspect which was sometimes overlooked by advisers, Lombard Odier’s UK chief executive Duncan MacIntyre said.
“Sometimes people forget, there...