Good financial management is vital to small business success. The money people know it and will therefore be more responsive to funding requirements when they see that management has full comprehension of all aspects of the financials reports.
For both the Seller that wants to sell its business and the Buyer that wants to purchase one, it’s important to be fully aware of the above-mentioned range of legal considerations and the various stages involved in the process to help ensure a smooth and successful transaction.
The Parties typically use the basic terms that were contained in the parties’ Letter of Intent (“LOI”), discussed in my last article, to structure the more detailed Purchase Agreement – be it an Asset Purchase Agreement or a Stock Purchase Agreement.
Setting up records should also be accompanied by hiring the right accountant for your business
Start Up Handbook series part 6, Setting up your records, a bookkeeper, an accountant, hiring the right...