|Article by David Hughes|
If you are a business owner you will know that building your company is hard work. Selling your business often seems like a distant dream, many years in the future - if only you could get there.
However, the years pass and the sale of the company seems to get no closer. Does that sound familiar? For many company owners it is an uncomfortable reality. If building the company is hard, selling it can feel like the ultimate goal that is forever out of reach.
It is a good idea to do a legal health check on your company each year, which will look at whether all your client contracts and compliance paperwork is in place. It will review your employee contracts and staff handbook and it will look at your online presence and whether your activities online are fully compliant with relevant laws. The aim is to make sure that your business is continually ready to be sold as it grows, because you never know when the right time to sell will come along.
The truth is that no company ever reaches a ‘perfect moment’ at which point it is sold. Selling a company, as with most things in life, is a compromise. It also takes hard work and serious planning. How do you value a company? What if your co-owners don’t want to sell? Who would want to buy your company? Is the company value too reliant on your employees?
The good news is that you can increase both the value of your company and the likelihood that it will be sold by understanding the key factors that a buyer will look for.
Garden House Solicitors offer their clients the legal advice to ensure a successful business sale. To book your free consultation contact our business law advisor, David Hughes at David@gardenhousesolicitors.co.uk or by telephone on 01992 422128
Tel: 01992 422 128
The contents of this article are intended for general information purposes only and shall not be deemed to be, or constitute legal advice. We cannot accept responsibility for any loss as a result of acts or omissions taken in respect of this article.