Are you intending to sell your business?
As your business advisor we will be to help you make your business as attractive to the purchaser as possible.
This involves looking at the business and identifying the areas that make your business desirable. We also identify areas that can be improved on and by improving these areas you can add value to the business.
Also, we can help you arrive at what is a fair value for the business and help you decide on the best strategy to ensure you receive the best price.
The purchaser will expect you to provide them certain information so the better prepared you are the more efficient the process will be. You will have to provide information such as trading history, a draft contract, customer and supplier lists, procedures manuals, business premises lease agreement, etc. and we can assist you with this process as well as negotiate with potential purchasers.
Is your asking price less than $200,000?
If so, you will be compelled to provide a “Form 2” to potential purchasers.
What is a Form 2?
The Form 2 is a statutory form required to be served when a business - less than $200,000 - is sold. The form must be certified by an Accountant and delivered to the purchaser. Arising from the Land and Business (Sale and Conveyancing) Act 1994, the Form 2 must be properly prepared and served to comply with strict style and formatting guidelines.
At Sheridans, we have the software to be able to generate the Form 2 document.
Finally, we can provide Capital Gains Tax (CGT) advice pertaining to the sale of your business. Our expertise in the area of the small business CGT concessions will ensure that tax on your sale is minimised.
