Buy & Sell Business in Australia
Australia is no way different for buying or selling business from other places in the world. Before you get started, it pays to understand from a seller’s or buyer’s perspective. This means you need to identify why your business is for sale or why you need to buy one, why it is worth the price, and determine any potential risk factors that any seller or buyer would have.
If talking to your close friends or peers, or others who have successfully bought or sold business, or even experienced brokers didn’t help you find the right candidates, then talk to our consultants at GBCORP who can alleviate the pain points and any possible concerns potential sellers or buyers of businesses may have. Due diligence is something that is brushed inside the carpet by most businesses for sales or purchase, but GBCORP takes ‘due diligence’ seriously, and ensures that the business is organised, compliant and complete throughout the trading process.
Putting it further, we help assist with due diligence for both vendors to ensure every business process is in place and increase your sales price range, and for purchasers to ensure they know exactly what they are looking for and pay a fair price for the transaction.
Due diligence of any business will cover a review of the documents mentioned below: material contracts; active litigation; intellectual property rights (IPR), public searches of corporate data; insurance document; regulatory licences; finance contracts; employment records; permits & approvals; corporate structure and governance documents; asset state reports; real estate or property documents and commercial leases documents.
Next comes regulatory compliance. Different types of businesses have varying regulation levels, and we help with the required specific authorisations in a timely manner for your industry. Other key considerations to conduct business trading include details on contracts, stocks, plants & equipment, employees, financial statements, bank requirements, transitional handover support and restraint on the vendor (post-trading).
It is also important to review the lease agreement of the existing premises of the company, if any, covering what the process is for lease transfer and details of the lease terms to avoid and vary if found unfavourable to you. We cover asset protection too to assist in taxation planning and advice involving best business structure throughout the process.
The best part is that we help businesses manage disputes when entering into a sales or purchase with another party in Australia. Talk to us today if you end up on the wrong side of agreement, as we help you protect your interest and those of your company.
37 Dudley Cres, Mansfield Park SA 5012, Australia