Selling a Business

5 facts you need to know before selling your business

  1. Creating a buyer’s kit for potential purchasers is a good way of putting together all the key information the buyer needs to know when buying a business. The kit should have information about the businesses products, achievements, employees, customers, assets and financial position.
  2. In order to make sure that you are transferring all ownership of the rights and assets of your businesses, make sure that you understand what is included in the standard contract for Sale of Business 2004. Assets that can be transferred include leases, licenses, stock in trade, goodwill, intellectual property, land title, contracts with clients or suppliers and more.
  3. Don’t be afraid to include any special conditions to the standard Sale of Business contract. These conditions may be specific to your needs or your business. It’s important that these conditions are written correctly to avoid confusion.
  4. Before settlement, you will need to ensure that you continue with your obligations under the contract of sale. These include; getting the lessors consent to transfer the lease, maintaining the goodwill of the company and discharging any securities on the property.
  5. Since you normally sell your business to generate revenue, it’s important to understand the tax implications of the sale. The sale could be subject to Capital Gains Tax (CGT) or GST. If you are a small business owner you may also be eligible for some tax concessions.


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I don’t trust words. I trust action.

Just try us. We guarantee you’ll know straight away.