Selling your business
When the time is right to sell your business you want to make sure that you walk away in the best financial position that you can. After all, you’ve worked hard and you deserve to be rewarded accordingly. Stacks helps you ensure that selling your business is as stress-free and profitable for you as possible.
The process for selling a business is far more complicated than that involved in selling a house. Working out the value of your business can be tricky, as it includes more than just the physical assets. In addition to making decisions about the sale price, deposit amount and settlement period, you also need to consider arrangements for existing staff and/or handover training.
Bear in mind that if the decision to sell is based on financial difficulties faced by your business, there may be other options available to resolve them rather than selling. Seeking legal advice at this point may be particularly worthwhile.
A Stacks Law Firm commercial lawyer can provide advice and assistance to ensure that your decision to sell is the right one and if you do decide to sell, that you achieve the maximum capital gain. We will walk you through the steps you need to take so that you reap the rewards for all the efforts you have put into running your business.
How can we help you to sell your business?
Stacks Law Firm has expertise in Exit Planning and all aspects of corporate and commercial law. We can work with you to put your exit plan into action. This includes getting your paperwork in order, helping you to calculate your business’ value and negotiating the sale. We will ensure that you understand the tax implications of selling your business and any insurance requirements that may affect you post-sale. We will draw up the sale contract, including details such as:
- All of the assets being transferred
- Liabilities such as the business lease or creditors (people/businesses you owe money to)
- Any relevant restraint of trade that may affect what you do next professionally
- Employee entitlements (eg. where employees are transferred along with the sale)
Need some advice about selling your business? Call us today
