Due diligence is an investigation and analysis by the buyer of the viability of your business. A valuable risk management tool for buyers of businesses and companies, due diligence is advisable for anyone looking at buying a business. You can find our blog on the due diligence process here.
However, as the seller, the due diligence process can at times be quite overwhelming. Not only are you in the process of selling your business, but you are also running the business. But there are ways that you can make the process less of a burden and ensure your business stands out as an attractive opportunity and a safe bet.
In the driver’s seat
Are your documents in order?To avoid situations where multiple enquiries are fired at you, get your documents in order from the get go. Even the keenest buyer can easily be put off if they uncover something unexpected. The aim is to get your business such that it looks amazing from the outside and on paper. Simple housekeeping, carried out at the right time, is therefore essential to iron out any creases in your operation and prepare for questions from the buyer. Because once the due diligence starts, you don’t want to be wasting time digging for documents. Requests may come directly from the buyer or their legal and financial advisors.
What about confidential information?
Hire a professionalAs the seller, more often than not, your company will continue to trade while a prospective buyer is found. To ensure all your ducks are in a row, you can conduct the pre-sale due diligence yourself or hire a professional.
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