Our Services

Buying a Business

If you are planning to buy an existing business, you need to carefully analyse all financial and operational records to ensure that you are purchasing what is claimed. This is usually referred to as ‘due diligence’

Bimson Smith advisors are experienced in identifying the issues that may influence both the purchase price and ongoing operations of businesses purchased.

Some important considerations are:

• Vendor - reason for sale of business
• Sales - patterns, trends, customer base, current suppliers
• Costs - fixed and variable costs, staff costs 
• Profits - analyse financial records, future cash flow and profitability 
• Assets - identify and check all assets, including intellectual property and leasing arrangements 
• Liabilities - outstanding debts, refunds and warranties 
• Purchase agreement - review carefully 
• Tax - GST, Capital Gains Tax, stamp duty implications 
• Legal issues - leases, business structure.

For protection in buying a business we suggest that you seek our advice as part of the due diligence process .