These are tough times. We’ve been through them before, and no doubt we will again. Nevertheless, a recession may be seen by some as an opportunity. It could be the ideal time to sell, or a good time to buy.
Buying a business
There’s a Latin expression which is well known amongst lawyers; ‘caveat emptor’. In plain English, it means ‘let the buyer beware’. When you’re buying a business, it’s usually a significant investment. Finding out you have almost no rights against the seller when it’s too late is unlikely to help if it turns out to have been a bad purchase.
Our buying clients range from modest acquisitions to those costing several million pounds. One principle applies to them all; if you’re buying, beware.
Selling a business
When we’re asked to help with a sale, one of the first issues we’ll often be involved with is preparation. As with other areas, if the business you’re selling can be shown to be in good order, it is likely to be far more appealing to a buyer. This may, of course, be reflected in the price and help to make the sale a smooth transaction.
Our selling clients vary from those looking to dispose of a small business to much larger corporate transactions. One principle is relevant with all sales, no matter what the price may be; preparation.