It’s Business, And It’s Personal

Selling a business made easy

| May 9, 2018 | Buying & Selling Businesses |

Business owners in North Carolina may be hesitant to follow through on the goal of selling their companies. However, the process can be made easier by having a group of advisers. The team should be comprised of those who have gone through the process of selling a business in the past. Ideally, there will be people who have financial and legal backgrounds as well as those who the owner personally trusts.

Business owners should consult with this group to come up with a valuation for the company. It is not uncommon to see a sale stall or not happen at all because the seller wants more than buyers are willing to pay. Steps such as selling assets, settling cases and buying out minority stakeholders can help to increase the value of a company.

Selling a company may also be easier when the right buyers are asked to make an offer. Buyers could include other companies, suppliers or those who simply want to invest in a company that has the potential to make money. Depending on the circumstances of the sale, a buyer could be located either in the United States or in a foreign country. Once a buyer or buyers are found, due diligence can be done and the details of the deal can be negotiated.

When selling a business, it can be a good idea to have as many people providing insight into the deal as possible. An attorney may be able to review a purchase agreement to see if it is in a seller’s best interest. Attorneys may also be able to assist with any due diligence that is related to these types of business transactions.

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