Sell your business

If you have just started thinking about selling your business, it is important to consider what is involved and how to get the best advice. From valuing your business to mitigating future tax liabilities, achieving a successful business sale requires extensive preparation and planning.

Selling your business may be a long-term objective you are eager to capitalise on now. However, much like building a successful business it requires time and expertise.    

Selling your business: what to consider? 

The decision to sell your business will be impacted by a number of factors. Gathering accurate data and insight early in the process will help shape not only the type of sale but also how the sale is structured and ultimately, the success of the deal. 

Before entering the marketplace to sell your business, it is advisable to have considered the following:

  • What are the options for sale and how does that fit with your personal exit strategy? 
  • Can you accurately value your business and determine future liabilities and risks? (e.g. Corporate Tax, Capital Gains Tax)
  • What are the current market conditions? How likely is your business to sell? Are businesses in your sector undervalued at present? 
  • Are you aware of any issues internally that would need to be addressed prior to putting the business on the market? (e.g. issues that might negatively impact interest and/or the sale price)
  • Have you decided upon your preferred role post-sale: retained as an adviser, manager or leaving the company completely?
  • What are your upper and lower price limits for negotiation, preferred payment terms, and protections for current employees?
  • Are there additional resources available to manage the negotiations, transaction and any post-sale issues?
  • Do you have a clear picture of post-sale tax liabilities?

Selling your business: what to look for in a firm of advisers? 

Irrespective of whether this is going to be the first time selling your business or the fifth, appointing the right firm of accountants and advisers is an essential part of the process.

Given the extent of preparatory work to be done and the complexities of closing a deal, you require a firm with extensive expertise and experience in the following areas: 

Consilium Chartered Accountants frequently work with owners and entrepreneurs in preparing for, managing and completing business sales. We offer a breadth and depth of experience in all aspects of selling a business from vendor due diligence and valuations, to assessing potential buyers and mitigating personal and business tax liabilities

To find out more about how Consilium can support you in selling your business, contact our Partners John Blair or Linzi Wilson

Alternatively, learn more about our Corporate Finance, Tax, Audit and Accounting services

John Blair
Partner
Corporate Finance Advisory
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0141 204 6650
Linzi Wilson
Partner
Corporate Finance Advisory
Click to Contact
0141 204 6650