What To Consider When Selling Your Business

More1

Isabelle Ford
Head of Marketing
Moretogether.com

isabelle.ford@moretogether.com

When starting a new business venture, people often forget how they are going to go about exiting when the time comes. moretogether.com supports small UK businesses throughout the full lifecycle and can help create robust exit strategies to ensure a clean sale.

The value of your business can be attributed to historical profits. Up-to-date management accounts and a 12 month forecast will be at the top of the list for most serious buyers. This means profitability planning is important in the months leading up to the sale and if you have this information readily available, it will give you solid foundations for a good sell.

The areas found most complex when structuring a company for sale is Capital Gains Tax and Due Diligence. When these two areas have not been put into consideration, the sale process can become drawn-out, desirable buyers can be put off, and money can be unnecessarily lost. This can all be avoided with the right professional support.

For those who do have an exit strategy in place, it is recommended that on-going Due Diligence is carried out. Anyone who is interested in buying your business will want to have a clear understanding of the underlying profitability trends. Are profits on the increase or declining? This can be done through annual audits which will ensure your accounts are all inline and when the time comes to sell, it can be done within a shorter time frame and more favourable buyers can be chosen.

At moretogether.com, we have the necessary service lines that can ensure a smooth exit and tidy transition to the new business owners:

Accounting – ensure your financial records are up to date and presentable
IT & Digital – support to help transfer any online resources
Legal – assistance with new and existing contracts

Further details can be found on our website: www.moretogether.com

We are moretogether.com

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