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What Are My Options If I Can No Longer Run My Business?

You’ve just walked your client outside and thanked them for stopping by, another successful day of work accomplished. You lock the front door of your establishment and your phone rings. It’s your wife. She’s calling to let you know the test results you had been anticipating from the doctor came in. The doctor regrets to inform the family that the results showed your wife does, in fact, have cancer. Your heart stops as her following words become a blur.

Your immediate reaction is “I need to get home now.” You don’t know how to bring her comfort. You feel helpless; there isn’t a cure for cancer. There are treatments, but you don’t even know what her prognosis is yet. A flood of emotions fill you as all your responsibilities come to the surface of your mind. “My wife is sick, and she needs me. My business can’t run itself. My bills won’t pay themselves. The work won’t do itself. What am I going to do?”

We like to think scenarios like this will never befall us; unfortunately, they can, and they do. There are things that can come up in life at any time without warning, and we need to know our options. As a business owner, encountering a turn of life events such as this might give you a new perspective on what’s important to you. You might want to spend more time focusing on your family and less time on the business. You need to know that you have various options to achieve this goal, and each option has its advantages and disadvantages.

Here are some options if you want to take a step back from your business quickly:

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Don't Kick the Can Down the Road

There are many things to consider when you are thinking of a potential exit, whether it be your own personal/business circumstances, the overall M&A market or potential tax implications.

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Benchmark International Facilitated the Transaction between Silexx Financial Systems and Chicago Board Options Exchange

Benchmark International has successfully facilitated the transaction between Silexx Financial Systems, LLC and Chicago Board Options Exchange (CBOE). Headquartered in Chicago, IL, CBOE is the largest U.S. options exchange in the nation. Silexx Financial Systems, LLC is a broker-neutral, multi-asset class trading platform in Sarasota, Florida.

Thomas Frey, president and majority owner of Silexx Financial Systems, LLC stated, “I would like to thank Benchmark International for their persistence, and focus during this transaction. As is often the case, this transaction faced numerous challenges during each stage of the process. The Benchmark team remained focused, and leveraged their experience to maintain forward progress during difficult times of the process.”

 

Ready to explore your exit and growth options?

 

Benchmark International Director Dara Shareef stated, “We would like to congratulate our clients, Silexx Financial Systems, LLC, Thomas Frey, and Michael Williams, as well as the buyer, Chicago Board Options Exchange. This acquisition enhances the CBOE delivery model and provides its customers industry-leading data analytics and trade execution tools for more than three dozen global markets. The buyer truly valued our client’s existing OEMS platform and access to major global markets in North America, Europe and Asia. We feel this deal was a win-win proposition for both CBOE and Silexx, and we wish them both all the best in the future.”

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