There seems to be a lot of interest in people buying businesses recently so let us hope that is a good sign for the economy. We’ve already talked about the need for care generally when you are looking at a business acquisition (click here) but if you are contemplating buying a business, there are numerous matters to be considered
Other issues to be aware of:
- Never sign a contract until you have had legal and accounting advice
- Make sure you are buying the business in the appropriate entity
- Keep full records of everything that is said or given to you by the vendor or vendor’s representative.
- Do your own due diligence and check all the information supplied to you.
- Is the location satisfactory for your business?
If you would like a copy of our Guide to Buying a Business, please contact Nick on 0800 ASK NICK or email nick@abac.co.nz.
