We understand what is necessary to make a business “sale ready”. And while this can take up to 18 months in some cases, the payback is significant.
For example, it’s so important that you can prove that the management structure is sound and that the reporting is clear (and not muddied by owners private interests) – we will help you. We can also determine the best tax structure for a sale, which done correctly can mean that no tax is payable.
Specific areas Snelleman Tom can help you prepare to exit your business include:
- Structuring the exit of the business and income/capital funding
- Capital gains taxation
- Ongoing management assistance for new management of the business
- Redefining roles and responsibilities for new management of the business
Preparing the Business for sale
- Corporate governance issue are in place (e.g. insurance, WH&S, licences)
- Ensuring organisational responsibilities are defined and that the business processes are clear and documented.
- Investments and other assets and other items of income and expense are separated from the entity to be sold
- Managerial accounts and financial information correctly reflects the activities of the business for sale (and adjustments for non-core, one-off, personal or arms-length transactions are clearly identified and separated)
- Identifying the likely buyer of your business (target market)
- Placing an accurate value on the business
- Appointing a broker to sell your business
- Assisting with sale negotiations
- Reviewing income needs and investment options
- Superannuation and retirement planning
- Rollover (taxation) considerations if transitioning to a new business
See other ways we help business owners who are: