Are you thinking of buying an existing business?
If so, please contact us.  Purchasing a business is decision that should not be taken lightly.  Sadly, many people rush into doing so without carrying out detailed checks, including looking at existing accounts (due diligence).

CMA will provide you with guidance on what questions you should be asking, what records you are entitled to see and what other considerations there may be.

If the business has premises, you would be required to sign a Lease. This is a legal document that means you are immediately taking on a massive liability, which many fail to realise.  For example, if your rent is £12k per annum and the Lease is for 5 years, you become liable for £60,000 worth of rent, regardless of whether you are trading or not.

This is why seeking professional support is vital.

Are you selling your business?

Have you got an exit strategy?  Are your accounts in order? Do you have an up to date profit and loss sheet?
Failure to produce these documents, or showing incorrect profit can damage the value of the business you have worked so hard to build up.

Getting professional guidance will maximise your businesses’ true worth and help prepare for any tax liability in the event of a sale.

Are you bringing a new investor on board?

If so you will need an accurate valuation of what the business is worth to be able to offer a mutually beneficial deal.

Please call CMA today