What information will I need to prepare prior to selling my business?
Monday, August 30, 2010/
Entrepreneurs looking to sell up need to make it as simple as possible for potential buyers to examine their company and assess its value.
Items you will need to prepare include:
– Financial statements including profit and loss report, balance sheet and cashflow statement. Buyers will probably want to see financial
statements for prior financial years, so be prepared to provide these too.
– Tax returns.
– Employee information
– Any details of on-going leases, contracts and other agreements.
– Asset valuations where appropriate.
– Information on key customers and suppliers.
As a seller, you will also need to be on hand to answer questions from potential buyers and, of course, negotiate that sale.
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