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Buying a Business?

calendar icon July 3, 2023 | author icon Author:  suppleadddmin | category icon Category :  Insights

Are you looking to buy a business?  Do you want to start a new life adventure or are you just tired of working for someone else? Perhaps it is time to expand your existing business by buying something that will help take it to the next level? 

Either way, buying a business is a big deal.  It can be stressful. Time consuming. Complex. 

Like most things in life, if you put the work in, take the time to understand the issues and the risks, and be open and transparent, you should arrive at a satisfying outcome. 

Things go wrong more often when short cuts are taken and issues are not dealt with properly at the time.

In our series, “Buying your Business” we will take you through a number of critical steps that you should progress through to increase the chances of a successful (relatively stress free) purchase. 

Our notes are set out in five parts –

Part 1 – Start with why

Understanding the reasons for your potential acquisition can be relevant to each subsequent step

Part 2 – Do your homework

Discussing the importance for you as a buyer of doing your homework to really understand the business you are looking to buy, its risks, and how they feed in to each other phase

Part 3 – Structuring the deal

Understanding how to use your due diligence findings to negotiate a transaction structure that best mitigates the identified risks, gives deal certainty and meets the seller’s requirements

Part 4 - Getting the deal done

Taking you through the key issues in the sale and purchase agreement for the business

Part 5 - Closing it out

Walking you through the process from signing the sale agreement, to completion and dealing with post-completion issues such as warranty claims

The information in this article is provided for general information purposes only. It does not, nor is it intended to, constitute legal or other professional advice. The information provided is not intended to be a comprehensive review of all developments in the law and practice, or to cover all aspects of those referred to. Readers should take legal advice before applying it to specific issues or transactions.