June 30th, 2017.

In the first part of this three-article series smallbusiness.co.uk explored the most common reasons why entrepreneurs sell their business.

Once that momentous decision is taken, it’s vital that you understand how the selling process works. While it does vary to some degree from business to business, the general steps are always broadly the same.

Appoint professional help
You don’t have to appoint a business transfer agent (BTA), the estate agents of the business selling process. Some sellers bypass this stage and go it alone.

However, eschewing expert help could be a false economy. Whatever you save in fees and commission might have been eclipsed by the higher price you would have achieved with their advice and support.

Selling a business is not a simple process and a broker – providing you hire a competent one – will guide you through each and every stage. They can value the business, find suitable buyers, protect your interests during negotiations (without alienating the other party) and advise on what information to disclose and when.

By handling the sales process a broker also frees you up to concentrate on running the business day to day. Generally, you will also need......

For the full story at smallbusiness.co.uk CLICK HERE.