Selling your Business

Building up your own business can be exciting and demanding. But there comes a time when every owner has to face the dilemma of succession planning. You will only sell your business once.  So planning an effective sale will be critically important in order to ensure financial security for you and your family.

Like many business owners you may not think about succession planning until just before you want to sell. In many cases this means your business is not properly prepared for sale. In fact, 81% of SME business sales collapse.  So it is really important to take the time to get a business sale right.

The Everyman Legal team has considerable experience of business sales and can advise and guide you through the process. The most important thing when considering a business sale is to be very clear on your personal objectives and to be very well prepared.  This can also help you to consider possible alternatives, such as a Management Buy-Out.

We can help you plan for the legal risks that might prejudice a business sale. These risks are far better identified and addressed 12, 24 or even 36 months ahead of a sale rather than just before the business sale. For example, you may be operating on standard terms and conditions that you put together yourself when you started up. What are the duration of these contracts? Can your customers terminate early? This can be an important consideration for the buyer of a service-based business.

We can introduce you to other key advisers who you will need for a business sale, including merger brokers and tax specialists.  With the right team of advisers, we will help make sure you achieve your personal objectives, optimise the sale price and minimise your tax.