If you are planning to sell your business, it's important to consider a number of alternative offers and understand that the process will require a large time commitment, writes Jacoline Loewen, a director at Crosbie & Co. You should also consider selling off a part of the business rather than the whole thing and perform due diligence. "Smart owners should hire their own corporate finance experts to eliminate surprises that could reduce the sales price," Loewen writes.

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