Buying a business
Buying a business can open up a huge number of development opportunities; rapid growth, market/geographic expansion and increased market share being just a few examples. The key to unlocking those opportunities lies in buying a business that is the right fit for your commercial ambitions.
What do we mean by the right fit? Essentially, buying a business that can:
- Achieve your commercial objectives, and
- Integrate into your existing operations successfully.
Finding and buying the right business
The preparatory work involved in buying a business represents a huge undertaking for any commercial enterprise. Furthermore, a whole host of specialist skills and knowledge are required to complete the transaction successfully.
As a guide, to complete a successful purchase it is advisable to have:
- Assessed the marketplace for suitable businesses to purchase
- A comprehensive understanding of the business you are purchasing
- Evaluated fund raising options and secured funding
- Agreed how to structure the purchase
- Put suitable resources in place to manage the business purchase, negotiations and post-deal integration, and
- Planned for post-acquisition integration and mitigation of tax and other liabilities.
Buyers will, therefore, typically appoint a suitably qualified and experienced firm of accountants and advisers to manage the purchase. Consilium Chartered Accountants fulfil this role for Scottish businesses across multiple industries and sectors.
Finding the right advisers when buying a business
By offering a comprehensive Corporate Finance, Tax, Accounting and Audit services to clients, Consilium are trusted advisers to business owners, funders and investors. We are able to provide an end-to-end service that will support you throughout the process of buying a business.
Our areas of expertise include:
- Business planning and strategic assessment of options available to achieve your ambitions (e.g. business purchase or merger)
- Valuation of the target business
- Financial due diligence on the target business
- Evaluating and accessing suitable funding sources
- Modelling and financial projections assessing the impact of the purchase over time
- Tax planning to mitigate risks and offset liabilities arising from the purchase
- Managing the business purchase process: from managing negotiations to agreeing Heads of Terms and working with other accountants, solicitors and/or funders
- Post-deal support: supporting you with the preparation of accounts, Corporation Tax, Management Accounts and Tax planning.
To learn more, speak to one of our Corporate Finance Partners Linzi Wilson or John Blair.
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