Yorkshire and North East Dealmakers Guide 2016 - 20

20 SELLING YOUR BUSINESS SELLING YOUR BUSINESS ©shutterstock.com Preparing a business for sale: critical considerations Selling a business sounds easy in principle, but there are many critical factors that determine whether a sale will be a success or not. We look at these factors and highlight some important steps for all business owners who are looking to sell M aking sure your business is in a good position to sell takes skill, attention to detail and good advice. And knowing when to sell is just as important as knowing how. The key is to ensure that your business is an attractive proposition for potential buyers. So getting your business in the best possible shape to attract the best possible sale price is critical. It takes time, so preparation should be started well in advance. And good planning is essential to the successful completion of a deal. It sounds obvious but it's surprising how many potential sales fail through a combination of poor planning and ill-judged management decisions. TYPES OF SALE Trade sale This is when the business (or parts of it) is sold to another company, generally one that operates in your sector. It is the most common, and for many, the best way to get a good price. You might be a potential target for a takeover by a larger competitor or a company that sees your business as a means to advance their own growth by tapping into your client base. Owners of businesses considering a sale should reflect on where their potential buyers will come from. It is common for buyers to be in the same sector, where the synergies of the two businesses are clear; where the core competencies and skills of the business can be applied to the new company to aid its expansion. These synergies will make the business an attractive proposition for the buyer. There also may be potential buyers in other sectors that see the business as a good way of diversifying into a new sector, because that some owners do not want to keep all their eggs in one basket. Management buyout (MBO) This happens when management teams buy ownership of the business. This can make sense because the management team should fundamentally understand the business and know how it can be taken in the next phase of its development.  http://www.shutterstock.com

Table of Contents for the Digital Edition of Yorkshire and North East Dealmakers Guide 2016

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