Updated: Aug 18
“If you believe a professional is expensive, try an incompetent”
In the process of buying or selling a business it is (sometimes unfortunately) necessary to hire the services of professionals in different areas.
¿Who, when and why do you need them?
The professionals and their services are inevitable and indispensable to conclude a successful transaction of buying and selling a company or business.
It starts with a good valuation of the business, a service sometimes offered by an intermediary, exit planner or a consultant to your business.
Then you have the accountants, external bookkeepers, lawyers (f.e. mercantile, patent, tax and labor), real estate agents and valuators, experts in valuing capital assets in the various industries re. fixed, tangible and intangible balance items.
The involvement of the different professionals needs to be planned beforehand and it is advisable to know (or get advised on) who you should hire, when and for what tasks.
This will greatly improve the chance to close a transaction successfully and evades unnecessary delays.
The assistance of professionals is as much needed for the seller as it is for the buyer of a company or business!