Buying and Selling A Small Business
Buying And Selling Small Businesses
Deciding To Sell Your Business Is A Huge Decision – So Is Buying One; Let Us Help With Practical And Commercial Advice
When buying or selling a business there is so much more than bricks and mortar to consider. Once the business has changed hands, it needs to retain the true value: its reputation, history and complete capabilities as it changes hands.
Carefully managing these aspects, as well as the staff and business relationships, will take a lot of time and effort on your part before you’ve even considered the legal challenges in this process.
Getting A Realistic Picture
Once a purchase offer is made on a business the process of due diligence begins. This is where you are given access to its books and records. This will provide you with a realistic picture of how the business is performing and expectations for future performance.
This process will also draw your attention to any other issues, but traditionally there are three areas we will advise you on:
Commercial – where the business is in the marketplace and how it compares with its competitors
Financial – are all the accounts in order? Are their some irregularities? We work to resolve these issues
Legal – does the business hold ownership of all assets? Have regulatory and litigation issues been addressed fully? Again we will work to resolve these issues prior to any sale completing.
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For Kerry Houston-Kypta, Partner:
“Many thanks for guiding us through the sale of land. Also for in helping us to keep realistically within our budget. Our dealings with you both made it a pleasurable and stress-free transaction.”
"I would also like to express my gratitude for your professionalism, support and patience in dealing with this matter and the speed with which you managed to complete the work when finally you were provided with the undertaking. Thank you again for all your help. It is very much appreciated."