It was, Gary said, like selling a house: a business is worth what somebody is willing to pay for it.
“Just like when you're selling a property, it is important to have things in order, as much as possible.
“Your business needs to be presented in the most tidy and attractive fashion and, depending upon circumstances, that process can take time to achieve.
“Potential buyers will be looking for a business that is well-organised, profitable, and has clear potential for growth.
“For these reasons, it is vital if you are thinking of disposing of your business to get RNS involved from an early stage.
“Disposing of a business can be an incredibly stressful and a time-consuming process.
“During the process, the business will have to operate as normal so it is vital the professionals working for you on the disposal are available and capable of taking away as much of the pressures as possible.
“Here at RNS our considerable experience on business disposals means we can guide you through.
“We also have considerable legal sector contacts which should ensure that your 'disposal team' is working together successfully for you.”
Services surrounding a business disposal would typically include:
- Reviewing deal and contracts for taxation impacts and taxation warranties
- Reviewing offers received
- Liaising with your other professional advisers to minimise “deal creep” and “deal fatigue”
- Preparation, and review of, information required with regards to any due diligence requirements
- Planning and advice in conjunction with our Independent Financial Advisers, RNS Financial Services Limited as to where to invest the disposal proceeds
- Reviewing your retirement plans from a taxation perspective
- Assisting in the deal structure and price negotiations as and when required
- Preparing and reporting on Completion Accounts
- Calculating your tax liabilities and future exposures
- Just being available as a sounding board and voice of reason when stress levels rise.
Finally, as well as disposals, RNS helps people every year acquire businesses ranging from simple small deals to seven figure sums.
If you are thinking of disposing or acquiring a business, contact your regular RNS partner or, if you are new to RNS and want to talk, contact Partner Gary Makinson on 01724 842713 or email action@rnsca.co.uk