We recommend you conduct a thorough and targeted due diligence and work out early if the business is worth investing in. We can then guide you through the process of acquiring the business and understanding the various issues involved, such as whether you should buy the business as a sole trader, partnership, company or trust. We always advise that we work closely with your Accountant/Tax Advisor so that your structuring is financially sound.
A common problem area is the issue of employees’ rights and entitlements on sale/purchase of a business. Another important issue is the security of possession of the premises from which the business is being conducted.
In selling a business, it is equally important that legal advice is taken so that no issues are left uncovered that could lead to unexpected future liabilities, for example guarantees of the property lease or capital gains tax.