DO you own your own business? Are you looking to sell it?
Preparation is the first of four main stages in a transaction and something best started sooner rather than later. We typically advise business owners allow at least six months to get ready for a transaction.
But even if a transaction is not imminent, there is no harm ensuring you are on the right track to making your business as attractive as possible to a future acquirer, should the time come.
Some points to consider:
- Are you certain you own your shares?
- Does your company own any property you think is yours, but actually isn’t?
- Do you have easy access to customer and employee contracts?
- Do you produce adequate management accounts?
- Have you paid the right amount of tax?
- Is your management team up for the task?
These are just some issues we come across where adequate preparation can reduce delays and additional costs in a transaction.
For further information on how Baker Tilly can help you prepare your business, contact Kirsty Sandwell, corporate finance partner, on 01293 591737 or kirsty.sandwell@bakertilly.co.uk.
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