Buying & Selling your business

Buying

With so many options available to you it can be difficult to decide which way to go. You may wish to consider purchasing a company that is already in existence, buying franchise or opt for starting up your own business.

If you decide to buy an established business you will have

On the plus side

A business that has an established trading record with an existing client/customer base.
When you want to sell the business the decision will be yours and yours alone.
Generally an established business has a greater chance of success.

On the negative side

You will probably require quite a large investment which may require funding.
There will be legal costs to cover in respect of the transfer.

Selling

Selling a business will hopefully be a financially rewarding experience and can often be the culmination of a lifetime of work. There are, however many things to consider.

Have you adequately planned your exit route?
Have you considered any capital gains tax which may arise?
Have you taken advice on inheritance tax planning?

In general, the best advice is not to rush into selling your business, it is vital that you plan ahead and ideally should allow at least a year before actually placing the business on the market.

Testimonials

"Over a number of years Morris & Co have provided me with sound financial and business advice. Their in depth knowledge of my particular sector has proved invaluable and they explain my accounts in a way that is easy to understand. All my questions are answered promptly and efficiently and I really appreciate their level of expertise."
David Evans, R T Booth & Co Ltd
"In addition to providing management and year end accounts, Morris & Co have assisted me with and prepared business plans and cash flow forecasts... to help me make vital business decisions."
Dave Lawson, Cardiff
"We have found them efficient and user friendly, and have made a big saving in our accountancy and bookkeeping costs. I can unreservedly recommend the arrangement to my fellow franchisees."
Colin Donald, Slough
"I am delighted with the service I have received from Morris & Co. As BFA Affiliate's I have confidence in their level of knowledge and expertise. As a result I am free to concentrate on building my business with their help and advice."
Simon Wise, Driver Hire London North
"At first I was somewhat reluctant... I have been able to establish a mutual trust and experienced a professional and thorough service."
Kevin Morrissey, Sheffield
"When appointing an accountant it was very important to me to select someone who was not only knowledgeable but friendly and approachable. I have always received proactive, professional advice and I know that the specialist advice I require to run my business is only ever a phone call away. A VAT full cost and apportionment calculation was recently undertaken for my company. As a result of this, my percentages have reduced, thereby saving me additional money."
Ian McGarvey, Ian McGarvey