Dangers of Buying a Business

There are many purchasing pitfalls that can trap the unwary. People sell their homes for a range of obvious reasons, and they renew their cars regularly, but the promptings for selling a business are less apparent, unless there is something wrong. It is important to remember that there are no bargains. If a business is going cheap, there is probably a good reason. Never forget that the seller knows a lot more about the business than the buyer. This article highlights the steps you need to take to ensure a successful acquisition:

  • Getting help in analysing the true value of the business
  • Checking the accounts properly
  • Understanding exactly what you are buying
  • Negotiation ploys to watch out for
  • How to deal with sellers who pressure you for a quick decision

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