This is a question I get asked frequently. And my answer this January is “Yes, I think now is a good time to sell or buy.” Why do I say that? With the election out of the way, there is a more politically stable environment. Also, the start of a new year often results in an increase in business owners planning for future, which inevitably leads to sales and acquisitions.
WHAT ARE THE KEY FACTORS TO SUCCESSFULLY BUY OR SELL A BUSINESS?
Picking the right moment to buy or sell a business is similar to building a football team. You want to win the league and be declared champions. But first you have to build Confidence, which leads to increasing Momentum which leads to the ultimate Success Outcome i.e. winning the League/getting the right price for the business you are selling or buying.
These key elements usually need a team to deliver. A good coach, (solicitor) manager (you) assistant, manager (accountants) often work together as a winning combination. Their roles and activity all depend on what your reasons are to buy or sell.
REASONS TO BUY OR SELL A BUSINESS
For a Purchaser these are the main reasons –
For a Seller the main reasons are -
THE SOLICITOR AS A "COACH"
Having coached a number of business owners last season throughout 2019, I thought I'd highlight a few of the results the team at Hewetts achieved.
Big Wins HEWETTS helped with in 2019
These are just a few examples of where we have been able to add value to the transaction by reducing liabilities and making financial and tax savings.
HERE IS WHAT WE PROMISE OUR CLIENTS
We've a long established corporate practice area, (actually since 1893!)
I have been fortunate enough to work closely with a team including an employment lawyer and corporate lawyer to provide a very personal service throughout process.
The range of business we have act for is diverse. This is including IT companies, recruitment companies, Charity based companies, funeral directors, bars and restaurants, hairdressers, professional firms such as surveyors, accountants, doctors vets, also manufacturing companies and most service companies.
Please contact Geoff Kew for an informal and confidential discussion if you are considering buying or selling a business in 2020.
0118 957 5337 or email email@example.com
Published on 06/01/2020