Here at Bird & Co we can provide advice to you if you are looking to buy or sell a business, whatever the nature of the business and whether it is a sole trader, a partnership or a company.
We’re experienced at dealing with businesses large and small, whether you’re a sole trader or a large company.
If you are looking at buying or selling a business it is important to get good advice as early as possible in the transaction. We can provide this advice along with your accountants and other professional advisors.
Where you are purchasing a business you will need to consider a number of factors including, but not limited to:
- Deciding on the appropriate structure for the business following the purchase. We can assist if you require a company to be formed or where there is a partnership we can draft a Partnership Agreement.
- If there are any employees then you can assume responsibility for their employment, together with any rights they may have accrued over their length of service. We can provide advice on this where required in partnership with our employment team.
- We will investigate the business, by raising appropriate enquires, and advise you on our findings.
- We will ensure that you are protected by appropriate contractual warranties and indemnities from the seller in relation to their ownership of the business.
- If appropriate, we can ensure that there is a covenant given by the seller not to operate a competing business for a defined time and within a defined area.
- Where you are looking to sell your business there are different considerations which could include:
- We will advise you on the content and extent of the warranties and indemnities which are required by your buyers.
- We can assist you in preparation of the replies to enquiries requested by the buyer’s solicitor.
- We will draft the contract for sale of the business and can include appropriate clauses to structure the transaction as advised by yourself and your other professional advisors.
If you are considering a transaction and would like further advice then please do not hesitate to contact us on 01636 600656.