Selling your Business.
Core Business Brokers has been established since 1999 and is proving to be one of Sydney`s premier business broker dealerships. Sydney has numerous businesses of all types and we at Core Business Brokers are confident of assisting any clients looking to sell their business. If you need a reliable and trustworthy Sydney business broker, then please give us a call on 02 9413 2977 or email our office at [email protected] Core Business Brokers have a team of specialised brokers who part own the business . Each partner has many years of experience in the art of selling all types of businesses. We understand, as business owners ourselves, how important it is to deal with the right person who you are trusting with your confidential business information. The core of our business is Integrity. When you engage Core Business brokers to sell your business you deal with one of the principals and we would be delighted in the opportunity of an informal chat to discuss your exit strategy.
Avail Valuable Assistance of Business Brokers to Enhance the Sale of Business
Selling a business can be quiet a complex procedure, especially if yours is just a little concern. Apart from evaluating the estimation of your different resources and sorting out the numerous and complex legitimate details, there may be the apprehension of being tormented by bigger purchasers. On the off chance that you are taking a gander at putting your business available to be purchased, it might be best to approach a business broker to do the diligent work for you.
At the point when offering a business, business representatives offer classification, market learning, a particular commitment, support in sorting out a publicizing effort and, above all, business sector information. Ensure you utilize one when planning business for sale in NSW. At Core Business Broker, we offer our clients with number of assistance that will help them in their business venture.
Business brokers in Sydney offer a full support of those selling their business. They will gauge the full estimation of your organization and its benefits, discovering a value which will both discover a purchaser and give you a suitable profit for all the diligent work you have put in. The brokers will then discover you that purchaser, either through promoting or exploring and drawing closer gatherings who may be intrigued. When putting up your business for sale in Sydney, getting reliable and resourceful buyers can be a hectic task. With the help of the brokers provided by our company, you can easily get the purchaser who will buy as well as sellers who can see a profitable share of their company that can prove out to be profitable for your organization.
CORE BUSINESS BROKERS- Blog
Are you planning for succession when considering the sale of a family business?
In planning an exit strategy on how to sell my business, it is important to also plan for succession so that a new owner can assume ownership of a business that has all the main functions and responsibilities of the business covered.
However, to achieve this state of affairs some of the questions to consider include:
Have you developed a strategic plan for the business which incorporates succession planning?
- Have you visualised what the “end” is for your family business (eg succession by the next generation), either to sell my business or an initial public offer?
- Have you considered a strategy for ‘professionalised ‘management of your family business?
- Have you established procedures to determine issues relating to the family and the family business?
- Have you established policies relative to the employment of family members?
- Have you established policies relative to the remuneration to be paid to family members?
- Have you benchmarked the family business’ performance against other similar businesses?
- Have you established policies and procedures that would enable the family business to employ external executives, possibly including an external CEO?
- Have you established policies and procedures for the family to appoint a Board of Directors and for the possible appointment of some external directors to the Board of Directors?
A strategic plan includes strategies to assist in the development of family businesses and protocols related to a Family Constitution, succession plan and the appointment of a Family Council (if any).
The size of your business will dictate which of the above elements are necessary to put in place and also whether to consider how to sell my business on the open market.
Whether you wish for the business to remain in the hands of the next generation or prepare for the sale of your business sometime in the future, a comprehensive succession plan will strengthen the business for either possibility.
Published by: Roy Levy
Sale of a business- Are there any tax implications to be aware of?
The process and negotiations involved in the sale of a business can be an emotional roller coaster as the business is often the largest asset owned by the seller. In determining the valuation of the business before it is listed into the market, it is also critical to understand all the tax implications in the event of a sale as there are often unintended tax consequences discovered post the sale which could have a material adverse outcome on the net receipt of the business sale to an owner and thereby possibly affect his retirement plans. Examples of these possible tax issues could be the valuation of the fixed assets in the event of a sale of assets only as there could be depreciation recoupment which results in tax being paid on the excessive values placed on the fixed assets over the written down values as per the latest balance sheet.
In addition there could be material capital gain taxes to be paid depending however on the circumstances of the business and the individual shareholders. All these issues should be explored initially with the Seller’s accountant and business agent so that there is a clear understanding of any tax consequences and if this is the case, there may be a way to market and sell the business through the sale of shares and thereby minimise the capital gains tax. The sale of shares rather than only assets, brings into play a different way to tackle and market the sale of the business and the business broker needs to be well aware of the correct strategy of going down this route.