Buy and sell Businesses - First City Business Brokers

We are here to help you sell, buy, or value a business in the North West of England

WHAT HELP WILL I NEED?

Typically, a businesses seller will require the services of:-

An accountant to assist with:-

• Providing the latest year's trading figures
• Dealing with any technical issues on the profit and loss account and associated balance sheet
• Advice on taxation issues and the apportionment of the sale
• Creation of completion accounts and tying up your tax affairs post completion

A solicitor - essential to ensure

• A clean sale i.e. with no breeches of employment law (transfer of undertakings) regulations etc.
• The sale price (technically known as the consideration) is paid in full, on-time with no scope for the purchaser to claw back savings or defer payment
• The premises (lease or freehold) are transferred to the purchaser in parallel with the business

A business transfer agent

• Optional for the sale as dealt with in the previous step
• Often required if you plan to reinvest some of or the entire sale proceeds in a new business (i.e. to help you locate other businesses for sale!)

A financial advisor (optional)

• To help you invest some, or the entire sale proceeds in a pension fund or other appropriate investment vehicle to suit your circumstances

This material represents the views and opinions of the authors and the contents of these pages are provided as an information guide only. It is strongly recommended that readers commission the relevant professional advice as indicated in the text. No legal liability or other responsibility is accepted by or on behalf of First City Business Brokers for any errors, omissions, or statements on these pages, or any website or other resource to which these pages refer. First City Business Brokers accept no responsibility for any loss, damage or inconvenience caused as a result of reliance on such information.