Selling your company can be an overwhelming process with many concerns -including getting the best price possible, any legal obligations and how to go about finding a suitable buyer.
Selling a limited company follows the same process as selling any other type of business, requiring consideration of several key factors, and is a time consuming process. In order to make the sale of your business easier to manage – and as successful as possible – it is important to prepare the company accordingly and enlist the services of professionals to help you navigate the process effectively and efficiently.
Planning to Sell Your Limited Company
When in the planning stages of preparing to sell your limited company, it is important to start by making sure all directors and shareholders are aligned for the sale of the business.However, ensure the information is kept from the staff, as well as any competitors and supplies, to ensure you don’t suffer a dip in profitability whilst marketing the business for the sale.
At this stage of the process thought has to be given to any inheritance tax implications, as well as the possible potential capital gains tax liabilities, which are likely vary depending on the structure of the deal. Obviously these factors can get quite complicated, so it is best to bring in a professional at this point.
Consult a Specialist
Bringing in a qualified specialist can be a valuable resource when selling your limited company, as they offer many benefits, including making certain there are no conflicts of interest throughout the process. Highly skilled professionals, such as KBS Corporate, will provide a dependable consultancy while selling your business by helping to develop a solid exit strategy and ensuring your company sells for its maximum value. Through utilisation of their commendable knowledge, resources and contacts they can help to secure the best deal possible for you and your business.
Business sale consultants can provide invaluable insight as to how to best market the sale, proceed through negotiations and alleviate the stress and confusion of such an involved process.
Additional Services of Specialist brokers
Enlisting the services of industry specialists will offer many other benefits during the process of preparing to sell your limited company, and are described below. Marketing your company for sale has to be done very specifically in order to prevent employees and competitors from being made aware. The best way to do this is to have someone else do the marketing for you, minimising the number of people who know about the sale. When marketing a sale the most common mistake made is divulging too much information about a company too early in the negotiation process, as well as failing to obtain non-disclosure agreements from potential buyers. Your consultants will ensure details like this are properly managed at all times, as non-disclosure agreements (also referred to as confidentiality agreements) are essential from potential buyers before certain information about the company can be released, and a good consultant will make sure this is dealt with accordingly.
Specialists will also provide support during meetings between the buyer and the vendor, helping to steer the meeting in a desirable direction, look over any contracts or documents presented, and ensure your best interest is always protected and as the sale moves forward.Your consultants will also assist you in seeing to all aspects of the sale’s completion, including securing heads of agreements and other commercial aspects, as well as financial, legal and tax factors; offering knowledge and advice as to where to turn for professional expertise in those areas.
Even after completion of the sale your specialist will be involved in the handover, ensuring all loose ends are taken care of and all contractual obligations are carried out.
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