Blaser Mills
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Selling your business

Is your business in good enough shape to sell?

Selling your business is likely to be the largest and most important financial deal you will ever make and, whatever the reason for selling, what matters is that you get the best possible price.

Preparation to sell your business is therefore key and one of the most important tasks is for you to ensure that you are prepared to answer the due diligence questions of any prospective purchaser.

Due diligence is the procedure in which the prospective purchaser investigates all financial and legal matters relating to your business, the results of which will usually determine what the purchaser is ultimately prepared to pay for the business.

As the seller, it is important that you treat due diligence seriously and it is often a sensible move to carry out your own due diligence process on your business prior to putting it up for sale. Such move will enable you to address problems that arise and fix any omissions ahead of the purchaser’s due diligence process including, for example, updating company records and statutory books, addressing accounting and tax issues and dealing with any outstanding contractual or intellectual property considerations that may affect the business.

By addressing any such issues ahead of any sale you are likely to put yourself in a stronger negotiating position both when discussing the price and when negotiating what warranties will be required of you by the purchaser.

If you would like to discuss the possible sale of your business or for further advice please feel free to contact us at commercial@blasermills.co.uk.