Kickstart your 2018 Business Goals - Tips for Buying a new Business

Here are more of our top tips for buying a new business:

 

 

 

 

1. Review the deadlines for payment of stamp duty in each relevant location to avoid incurring late fees and determine whether the business will be sold as a going concern and whether you will be liable for GST on the purchase price;
2. Consider whether conditions precedent should be included in the contract;
3. Identify any key personnel and whether such personnel are to be offered new positions of employment and/or whether they are the subject of an adequate restraint of trade;
4. Identify the intellectual property to be purchased and the relevant owner. Obtain warranties and indemnities in relation to the vendor's right, title and interest to such intellectual property;
5. Ensure that any premises necessary to conduct the business will be assigned or transferred to you at completion.

Click here to download our free ebook 'Buying & Selling Businesses'.

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