What do I need to do before I sell my business?
If you are thinking about selling your business, there is a certain amount of preparation you should undertake to maximise the full potential and gain the best sale price.
You need to ensure that all the important contractual documentation is in place; for example, make sure that all your employment contracts are up to date and signed, including service contracts with any third parties, as well as your terms and conditions.When you have longstanding relationships with suppliers, distributors, or agents, the contracts can be out of date from when you first started working together. Make sure these are all updated to reflect your current business relationship.
Aditionally, y0u need a communication plan to make sure that you inform your staff and your suppliers at the appropriate stage that you are selling the company. Whilst this is not a legal issue, it is a crucial practical and commercial issue to ensure stability of the company going into the sale and protecting its value. Furthermore, you do not want to waste time and incur costs having to renegotiate with potential Buyers due to something you could have prevented.
Clear Advice Feels Better so if you are thinking about selling your business and need legal advice would like to know how to maximise your selling price, contact our Corporate and Commercial team on 01772 555 176 or email commercial@vslaw.co.uk
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I turned to Vincent’s with a challenging situation that needed very careful handling. Michael and Drew were respectful, understanding and supportive. This made them easy to liaise with and I always felt they had my back. Good at listening to what I wanted, we worked together in finding the best way to draw the matter to a close. This eased my stress and worry. I now highly recommend their services to anyone who needs legal advice and help. Thank you both.
Clear Advice Feels Better
I have been using Michael Sandys for commercial legal work for 20+ years. He has been a true asset to my business, dealing with many issues during that time.
Clear Advice Feels Better
I found Michael supportive throughout the process of selling my small business. I particularly appreciated how promptly he replied to any queries I had. I felt completely confident in the advice he gave me and want to thank him and his team for all their assistance.
Clear Advice Feels Better
Thanks Michael, and Drew, everything seems to have gone through smoothly.
I really appreciate the work both have you have done during this process. You have acted both professionally and also very personably, which I feel is important in such a business transaction. Based on my experience, I would have no hesitation in recommending you both personally should someone require similar services.
Thanks again
Clear Advice Feels Better
I have been using Michael for commercial legal work for 20+ years. He has been a true asset to my business, dealing with many issues during that time.
Supportive and Responsive
I found Michael supportive throughout the process of selling my small business. I particularly appreciated how promptly he replied to any queries I had. I felt completely confident in the advice he gave me and want to thank him and his team for all their assistance.
Clear Advice Feels Better
I turned to Vincent’s with a challenging situation that needed very careful handling. Michael and Drew were respectful, understanding and supportive. This made them easy to liaise with and I always felt they had my back. Good at listening to what I wanted, we worked together in finding the best way to draw the matter to a close. This eased my stress and worry. I now highly recommend their services to anyone who needs legal advice and help. Thank you both.
Clear Advice Feels Better
I have been using Michael Sandys for commercial legal work for 20+ years. He has been a true asset to my business, dealing with many issues during that time.
Clear Advice Feels Better
I found Michael supportive throughout the process of selling my small business. I particularly appreciated how promptly he replied to any queries I had. I felt completely confident in the advice he gave me and want to thank him and his team for all their assistance.
Clear Advice Feels Better
Thanks Michael, and Drew, everything seems to have gone through smoothly.
I really appreciate the work both have you have done during this process. You have acted both professionally and also very personably, which I feel is important in such a business transaction. Based on my experience, I would have no hesitation in recommending you both personally should someone require similar services.
Thanks again
Clear Advice Feels Better
I have been using Michael for commercial legal work for 20+ years. He has been a true asset to my business, dealing with many issues during that time.
Supportive and Responsive
I found Michael supportive throughout the process of selling my small business. I particularly appreciated how promptly he replied to any queries I had. I felt completely confident in the advice he gave me and want to thank him and his team for all their assistance.
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