Tips for Selling Your Business

Posted 24 Dec 15

There are many reasons why at some point you might decide to sell your business. Maybe you have started it with the ultimate goal of selling it for the maximum price possible before forming another company; or maybe the ideas you had simply didn’t work out the way you planned.

No matter what your reason is, it is important that you approach this topic in the right way.

Getting the basics right is the most important. You will need to form a realistic plan which will make the sale as simple and as stress free as possible. Of course, there are various factors you cannot predict nor prevent, but we have made a list of things you should keep in mind if you want to sell your business successfully.

1. Time

Finding the right time is essential in making a successful sale. It might be tempting to go with the quickest option, but it is much more beneficial to research the market before you put your company on it. The factors you need to watch out for are the financial climate, potential buyer profiles and market trends.

As being able to judge these indicators requires a lot of knowledge and research, it is much safer and simpler to hire a professional business advisor to help you pick the right moment.

2. Keep Your Business Active

Planning and researching the prospect of selling your business can be overwhelming and time-consuming. However, it is easy to neglect your company while you’re in process of seeking potential buyers. Since you won’t have time and energy to focus on managing your company, it can be useful to hire a strong management team, who will both add the value to your business and assist you with preparing it for sale.

At Tawanda Accountants we cover services you would associate with a leading business consultancy firm including tax planning, personal business growth, tax and assurance issues, asset management, self assessment and business lending and loans. We can ensure that while you are preparing your company for sale, we will take care of all your administrative and financial responsibilities for you.

Keeping your business’ high reputation is crucial in making a successful sale. Every single bit of the lifecycle of your business is important and we know it more than anyone. We will offer you expert advice and guidance, provide professional service and help you maximise your profits.

3. Strengthen Your Brand

If your business revolves around its owner, it will be difficult to sell. The same rule applies if your company is dependable on a specific employee, product or a customer. The value and attractiveness of your company should rely on its brand.

If a strong management team is supporting it too, your company’s reputation will show strength and depth which can bring more potential buyers.

Selling your business might be a challenging and exhaustive process, but when done in the right way, it can bring much greater rewards than the increase of your income. Contact us to find out how we can help you make this experience exciting.

About Us

As a leading UK accounting firm and expert business consultancy, Tawanda Accountants carry out scrupulous accounting and provide payroll services and procedures for small businesses, individuals and business start ups.