Advice on buying a business
Making the decision to buy a business is a huge and serious commitment for which you will need to seek sound financial support and advice. Whether this is the first time you’re considering buying a business, adding to an already existing portfolio of businesses, involved with a variety of different businesses or operate within a specific sector, Perrigo Consultants have the experience and expertise you need to make sure the decisions you make are based on sound financial advice and that ultimately, your purchase is a success.
What are the most common reasons for buying a business?
There are, of course, a large number of reasons why you may be considering a business acquisition. One of the most common in the current economic climate is to gain significant market share by buying up and taking over a competitor.
For both long established businesses and for those new to an established market, the cost of acquiring a business can often seem prohibitively high, but if that cost can be managed, company acquisition has a great many advantages. For one, you will be gaining access to ready-made teams of experienced individuals and saving time on the slow, laborious process of staff recruitment and training. Then there are the additional benefits of getting to market quickly and of instantaneously accessing technology and intellectual property.
Your acquisition may be to complement an existing business, or it may be a fast track to running your own initial business. In either scenario, it may be possible that raising the money for an acquisition is easier than raising money for starting your own business from scratch. This is for the simple reason that when you purchase an already successful business, there is a proven track record, a debtor book and assets on the back of which you can then secure finance.
What must be taken into consideration when buying a business?
The precise nature of the business you buy will depend on your own personal and commercial requirements and objectives. You will need to consider location, customer type, products and services, affordability, and so on. Current and future profitability is also of paramount importance, along with assessing potential returns on your investment and whether or not this will include capital growth and revenue streams.
Receiving impartial advice from accountants and business advisers can not only mean the difference between success and failure, it can also enable you to get the most out of your early choices and your ultimate investment.
Perrigo Consultants can help you at every step along the road to your purchase. We can help you answer the following questions:
Is the business you are considering a valid concern?
What is the most tax efficient way to purchase the business?
What is the best approach you can make, from a financing point of view?
Once the purchase is complete, how will you run the business?
Will this purchase affect your retirement plan?
How will the purchase affect your tax liabilities?
To make sure you have the right answers to these and other crucial questions, give us a call at Perrigo Consultants today on 01299 488860 or email us at: firstname.lastname@example.org, and we can get started immediately on helping you to make all the right decisions regarding the acquisition of a new business.