If you’re a business or sole trader, customers who don’t pay what they owe can have a significant impact on your finances. Of course, it more…
Business sale solicitors
Whether you’re retiring or it’s just time for a new challenge, having an exit strategy for your business is important.
Our experienced commercial solicitors can advise you on all aspects of selling your business, from heads of terms through to negotiation of contracts and completing the sale.
We can provide strategic input on relations with your buyer, help you review your contracts and documents to make sure your business is ready to sell and advise you on how to handle any sensitive disclosures.
Our team of commercial lawyers bring many years of experience in commercial transactions to the table, so you can be assured of a professional and reliable service during your business sale.
How do I sell my business?
To sell your business, you need to consider the best structure for your sale. For example, if you operate your business through a limited company, are you selling the shares in the company itself or will the company be selling the underlying assets?
Each route has different legal and tax consequences which your solicitor and accountant can help guide you through.
You also need to prepare your business for sale by ensuring your books and records are up to date and accessible.
This includes making sure key relationships with customers and suppliers are documented and clearing out any skeletons in the closet that might be unattractive to a buyer.
You can save a lot of time and money in the long run by investing the effort in this preparation stage.
Do I need a solicitor to sell my business?
Some business owners opt to sell their business through a broker, whilst others choose to do it themselves.
Whatever the route you choose, you will need expert legal and tax advice, so involving an accountant and a solicitor in the process at an early stage is a good idea.
Much like when selling a house, your solicitor can handle all the necessary legal paperwork to sell your business and can help manage the transaction itself by liaising with your accountant and any lenders.
Your lawyer can guide you through the sale by advising on heads of terms, steering you through the due diligence process, negotiating the sale agreement, advising you on warranties and disclosure and helping with other areas such as leases of premises or legal obligations to your staff.