Time to Fly

Selling your business

If you decide the time has come to sell your business, for whatever reason, then you will want to make it as simple and quick and possible.

Shaking hands with the purchaser does not necessarily mean the deal is done, as there are potential complications which could draw things out far beyond your original plans.

If not properly managed, the lawyers from both sides can take a long time to get the purchase and sale agreement drafted correctly. Then the purchaser's accountants are likely to carry out a due diligence exercise to investigate the sales-worthiness of your business. This is an important process to protect the buyer, but it can result in numerous questions and possibly significant disruption to the business.

By the time the process is completed, the deal may look completely different from the one that was initially on the table as, indeed, can the price.

By getting Harris Lipman involved at an early stage, you can agree on timescales that are realistic, mitigate legal costs for both parties, minimise the disruption to your business and improve the chances of satisfying the purchaser’s accountants. Our highly qualified consultants will ensure you are kept fully informed of progress at every step of the way to make your transition from business owner to business seller as painless and straightforward as you would wish.

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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