Recently, this article was published on the Australia Small Business Blog, with my contribution focused predominately on the benefits of using a Business Broker, like my good self:
“If you are going to be dealing with a business broker, make sure they are licensed with the relevant State body. The Australian Institute of Business Brokers (of which I’m a member!) has links to the various State licensing authorities. When exiting your business, you should seek some professional advice – however even an accountant or solicitor have limitations on the scope of the guidance they can offer around the valuation and sale of a business.
A qualified business broker can help in many ways. They will prepare you for the due-diligence that a buyer conducts. They know that a buyer or investor besides looking at the current profitability of the business, evaluates the extent to which it can run independently of the seller, as well as examining the scale-ability of the business. In other words, it’s capacity to actually handle growth and maintain profitability with any increase in the volume of sales generated”
Continue reading here: http://www.australia-small-business.com/2015/07/exiting-your-small-business.html