help needed!

[pete50]

hi everyone

im a 45%(23k) director of a small retail business which i helped set up with the other director 6 months ago.i kept my full time occupation up(which i enjoy and well paid)however working with the business and the additional hours are affecting my full time job and iv lost the enthusiam for the business.my full time occupation are hinting at a relocation too which i wouldnt mind
how do i sell/part with the business assets i own and move on with as little damage limitation as possible?

 

[jim_gold]

One option is to obtain an independent valuation for the business, then sit down with the other director and have a cordial talk about the options. It's always best in these situations to be as conciliatory as possible. Ideally, he will be interested in buying out your share, and together you can negotiate the payment terms which I guess will be staggered over a period of time.

 

[pete50]

thanks,much appreciated