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Business Services

Selling a Business

As your business advisor, we are able to assist you make your business as attractive as possible to a potential purchaser.

This involves looking at your business and identifying the areas that make your business desirable. We also identify areas that can be improved upon and by implementing these changes you can add value to the business.

Also, we can help arrive at what is a fair value for the business and help you decide on the best strategy to ensure you receive the best offer.

The purchaser will expect you to provide certain information so the better prepared you are, the more efficient the sale process will be. You need to provide information such as trading history, a draft contract, customer and supplier lists, procedures manuals, business premises lease agreements etc. We can assist you in the provision of these documents as well as negotiations with potential purchasers.

As registered conveyancers, we are licencds to provide services from the drawing up of the purchase and sale contract to the transfer and settlement process.

If the purchase price of the business is less than $200,000, SA laws dictates that you provide the prospective purchasers with a “Form 2”.  A “Form 2” is a statutory document required to be served when the business, with a consideration of 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 Finlay Financial Strategies we can prepare this “Form 2” for you as well as complete the conveyancing process.

Finally, we can provide advice on any Capital Gain Tax (CGT) liability that may arise from the sale. Our expertise in the area of the small business CGT concessions will ensure that tax on the sale of the business is minimised.