SELLING AND BUYING A BUSINESS

Abbott and Mourly is also a specialist in advising clients across Australia relating to clients wanting to sell or buy a business. Surprisingly this may include the use of a SMSF - a great tool for financing all forms of transactions.

So if you are thinking of selling and or acquiring a business, we will give you the right advice, work in with your accountant and/or financial planner and put you into the correct legal and tax structure and take you through the initial contract stage, due diligence process through to post-settlement of your business.

There are possible issues involved with, and consequences of, buying or selling a business. – The most significant thing to think of is that legal advice and financial advice is crucial before making or accepting any offers in a business.

So when you’re formulating your business for sale, you should consider what the buyer will be considering and you should also prepare comprehensive information on your business that will make the decision to purchase much more relaxed and the negotiation process much simpler.

However, from the purchaser’s end, prior to purchasing a business, make sure that as part of the contract process, a due diligence will be required on the business. Don’t get caught out…it’s a recipe for disaster. During the due diligence process, you should thoroughly investigate all aspects of the business for sale and purchase. Make sure that you look at the business’s operations, financial performance, legal and tax compliance, customer contracts, intellectual property, assets and other details, often within a time period specified in a letter of intent.

Send an email or call us for a free half an hour initial consultation on your options and how we can assist.