It’s never too early to make a plan

You have worked hard and will have shed blood, sweat and a lot of tears building your business. However, the point will eventually arrive when you decide that it is time to sell. 

This will preferably be at the end of a well-prepared planning process, ensuring that the business is in the best possible shape for sale. However, this may not always be possible, particularly when an approach is made out of the blue or when personal circumstances change. It is essential therefore to start preparing for a sale even when a sale is not in the immediacy.

It is possible to undertake some key checks and take the necessary actions before a sale process is even started. Simple matters such as ensuring all key information regarding the business is readily available and is up to date, this includes financial, legal and commercial information. Ensuring there are no unforeseen issues that due diligence will highlight is very important if vendors want to avoid having to provide extensive indemnities or even suffer price reductions.