Business Expansion

Buying another business

One way to expand your existing empire is to buy another company, but there are risks of which you should be aware. With the right professional advice all of these risks can be mitigated and a sensible business decision taken for a healthy and profitable future.

The first step is to ensure you are buying the right business. Harris Lipman has an investigations team to carry out a highly efficient due diligence exercise on a company and report to you on the advantages and potential pitfalls of making an acquisition.

Then you will need to employ sufficient project management to ensure the professional costs associated with buying another business, such as legal fees, do not become unmanageable. We can considerably reduce these costs, and we will be pleased to discuss with you how we can help you achieve this.

We can also advise you on the commercial terms of any contract and ensure that you are aware of the taxation implication of your purchase.

One of the major changes you will experience when buying a new company is taking on a new workforce. There are many implications of taking on employees which can be substantial, so the right professional advice in matters of HR law and tax is essential.

Our insolvency experience will assist greatly if you are buying the business out of receivership and our ability to communicate with the receiver on their terms can often make the difference between success and failure.

For more information on how Harris Lipman can help, please email InfoAccounts@harris-lipman.co.uk or call (020) 8446 9000.

 

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