Strategies for effectively selling a business
Transaction Services Partner Andy Sanford is joined by guest Lee Humble, UK Head of Corporate Finance at Azets, to discuss strategies for effectively selling a business, emphasising preparation, tax implications, and the importance of advisors.
Andy Sanford and Lee Humble discuss strategies for effectively selling a business
Transaction Services Partner Andy Sanford is joined by guest Lee Humble, UK Head of Corporate Finance at Azets, to discuss strategies for effectively selling a business, emphasising preparation, tax implications, and the importance of advisors.
Key Insights
- Cold Calling Risks: Cold calls from buyers may seem flattering but can lead to significant commercial and tax risks. Sellers should carefully evaluate their readiness and seek expert advice before proceeding.
- Preparation is Crucial: A well-prepared business can attract better offers. Sellers should ensure all information is accurate, complete, and organised well in advance of any potential sale. Long-Term Tax
- Planning: Engaging in tax planning two or more years before the sale can unlock beneficial tax reliefs and exemptions, ultimately leading to a more favorable transaction outcome. Speed Matters: Quick resolutions to issues during the sale process can prevent deals from falling through, as drawn-out negotiations can create uncertainty and erode value.
- Value of Corporate Finance Advisors: Having an experienced corporate finance advisor can help navigate complexities, maintain relationships, and increase the likelihood of a successful sale.
- Management Team Confidence: Demonstrating a capable management team is essential for buyers, as it reassures them of business continuity post-sale. This can be enhanced by incentivising key employees.
- Incentivising Key Staff: Offering ownership stakes to key personnel can align their interests with the business’s future growth, making the company more appealing to potential buyers.
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