Get the Records Straight

Some business owners are very diligent at keeping detailed, up-to-date accounts and

records relating to contracts, customers, staff, leases, asset ownership etc. Smaller

businesses that are run in a more entrepreneurial style may not be quite so

organised.

The first step in preparing your business for sale is to get the books up to date so there

is a clear picture of your operation, with supporting facts and projections. In addition

to your actual accounts, ask your accountant to prepare a set of “normalised”accounts

to show maximum operating profits.

This means adding back any expenses or purchases (sometimes personal) not

directly related to the operation of your business. An explanation of any such corrections is often required

and you should be prepared to discuss this openly.

For a full appreciation of the business Sales process please download our free ebook - link below.