Buying a business is exciting but can be complicated. This is where we step in! At Legal Clarity, we have extensive experience in helping individuals and companies purchase businesses, where we not only help you navigate the complexities of buying a business but help minimise them as well.
Buying a business requires thorough research and a strong understanding of what you’re looking to achieve. Here are a few things you need to know before buying a business.
Preparing for the purchase of a business requires lots of research and reflection on the type of business you want to buy, what you want to achieve and the budget and funds you have to facilitate this purchase.
A heads of terms document will later be drawn up to set out the basics and confidentiality of your purchase. The agenda of the purchase, alongside any timescales, will also need to be outlined in this document. At Legal Clarity we can support you in creating these, ensuring they comply with the latest rules and regulations and have reasonable terms.
There are two types of acquisitions:
At Legal Clarity, we can help you identify the type of acquisition that’s right for you.
If you purchase a business with employees you will need to understand and deal with employment law and the implications of the Transfer of Undertakings Regulations (TUPE). You will also need to consider:
When purchasing a business there are a range of questions you should ask, such as:
At Legal Clarity, we have extensive knowledge and experience needed to guide you through a successful business purchase. We’ll act as a partner and will work closely with you to achieve a desirable business acquisition.
So what are you waiting for? Get in touch with us today to see how we can help!