Getting Your House in Order
You need to present your business as professionally as possible and ideally, this needs planning in advance of your sale.
The more you plan the more you will ultimately get for your business so getting your house in order is vital. Many people think that when it’s time for them to exit their business they can simply look for a buyer and a sale will be easy and quick but there are so many things to plan for, and information that any sensible buyer will expect to see that take time and effort to put together first.
The more transparent your business is and the more information you can provide, the higher the sale price is likely to be.
Any buyer will be effectively ‘looking under the bonnet’ of your business and will request and expect to see a wide range of information and financials including:
- Organisation chart with roles and responsibilities
- Employment contracts and packages for each team member
- Pensions and other liabilities
- MI including statutory accounts and management accounts
- Property leases/details of ownership
- Business contracts and trading history
- Asset register and leases
- Insurance and tax arrangements
- Any IP documentation
- Regulation and compliance documentation
- Any litigation or dispute information
There is no doubt that a business sale will take time and some considerable effort on your part and this can seem daunting and confusing at times. Working with us on getting your house in order will ensure you follow a structured process which will then result in the best possible outcome for you and your business.
Having Moulds & Co Accountants on board right from the start will save you time and money in the short term and make you money once you are over the winning line.
Selling Your Business? Register below to attend our event, ‘how to sell your business for maximum value’.