Have You Considered Who You Are Selling Your Business To?
For many businesses, there are only a handful of potential purchasers so we advise our clients to consider the most likely candidates prior to selling – you’d be amazed how productive that consideration can be. Many people pay selling agents a fee for securing a sale to someone they already know. Whilst, selling agents have their place, you might know the purchaser already.
Purchasers come in all forms including:
- A sector competitor
- A speculative investor
- A purchaser who views your business as complimentary to their own
- An existing management team via a management buy out
- An employee ownership trust
- And yes, someone out of the blue
At the outset, it is important to identify likely purchasers as this allows the seller to construct their plans to sell, and tailor these to the prospective buyer.
What is our role?
Our specialist teams will work with you to identify the right purchaser. We’ll be honest, realistic and positive to ensure you have the best chance of securing the right sale. When we know the intended purchaser we can then advise on the tax implications as the tax reliefs available are dependent on who the purchaser is and also the structure of the sale.
If you are thinking of selling your business and would like to discuss your circumstances with sector leading experts, then please contact our Transaction Tax team today.
You can read our advice on ‘Why you are selling your business’ here.