An increasing number of entrepreneurs are putting off formally ending their marriages because they believe a divorce settlement will be the “final nail in the coffin” for businesses that have fallen victim to the economic downturn.

This fear is misguided, however, because the divorce process can take up to two years to finalise – by which time the economy is likely to have bounced back from recession.

I’m aware there are a growing number of people – especially those who run businesses – who have separated from their partners but not started the divorce process. It seems the reason for this is that people are worried that their businesses, which are already suffering because of the economic slump, will collapse if they have to pay a substantial financial settlement to their spouse. They fear it will be the final nail in the coffin for the business.

But the fact is that it takes about two years to finalise a divorce – longer in very complex cases – and by then the business should have taken off again. That means that now is the time to start the process.

If you wait for economic recovery, the value of your business will very likely have gone up and you will therefore have to pay out a bigger divorce settlement.

At the moment, things are bad economically, which means most businesses aren’t worth as much as they were: as a result, assets will have gone down, meaning there is less to give away in a divorce settlement. If you wait, however, you could find your business is worth a lot more because the economic climate has recovered, and therefore you’ll have to pay out more to your ex-spouse. If, on the other hand, it’s all done and dusted by then, you’ll be better off because the company will have gone up in value.

There’s another aspect to this, too. Divorce is also emotionally and psychologically draining, so you will be in a better frame of mind to take advantage of the economic upturn if you start the legal process now.

It means you could start afresh, with both the gloom of the recession and your divorce behind you. To get your business back on track requires focus and energy: if you have to deal with a divorce as well, you won’t be firing on all cylinders. Who wants to be in a situation where the economy is moving forward but you can’t because you’re being held back by fraught and complicated divorce proceedings?

So, if your marriage is on the rocks, take your eyes off the distant horizon and get the divorce ball rolling.