Buying a business can be a great way to expand geographically, tap into new customers or even bolt on additional services and products to your existing offer. And we’ll tell you how to make it a success.
“Our advice and support will be invaluable as you go through the negotiation, valuation and buying process, we’re best placed to provide advice on the whole acquisition or just parts of it… whatever suits your needs.”
Buying a business has its benefits such as;
Mark and Douglas explain why ‘EQ matters more than IQ’ – especially in complex and often emotional business dealings, and how empathy, rapport and honesty are every bit as important as simply having a ‘standard’ set of industry skills. It’s good to know that building strong and trusted relationships really does pay in business.
Professional help is invaluable as you go through the negotiation, valuation and purchase process when buying a business. After arranging a price you will need to finance the purchase.
Even after you reach an agreement you have to meet certain conditions of sale to complete, including: verification of financial statements, transfer of leases, and transfer of existing or new VAT registration to name a few.
Before you go about buying a business, make sure you’re clear about what you’re doing and why. Here are just a few things to bear in mind.
Do you have the resources? – Don’t underestimate the time and money involved in buying a business. It can easily drain your current company.
Find the right business – It might pay to use a professional advisor if you want to buy a business, as they’ll find and deal with the target companies for you.
Watch out for nasty surprises – Detailed due diligence is absolutely vital. Get up to date financial and legal information and get it professionally analysed.
Look at the management team – Who’s currently in place? Will they stay? Can they cope? And if the owner’s retiring, what will it do to the business?
Draw up a business integration plan – Combining a new business with your existing company is never easy so decide how you’ll make the pieces fit.
There are many other things to think about so our top tip is get professional advice when buying a business! It will make all the difference between a successful acquisition and a business nightmare.
Finding financing in any economic climate can be challenging, whether you're looking for start-up funds, capital to expand or money to hold on through the tough times. Read more on how to get funding or find more about our funding and asset finance services.
We can help with the whole acquisition process or just parts of it. Whatever suits you best. Our business acquisitions team can:
Our corporate finance team has handled literally hundreds of company purchases for owner managed and mid-sized corporate businesses. Typical transactions: £1m – £100m. We’ll use this experience to make your deal run smoothly.
We don’t have a minimum fee level and will take on any job, provided we’re sure we can make a difference.
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