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Assistance with Selling Your Business
At Teefy Wolfe Accountants, we assist clients on the Gold Coast to sell their businesses and plan for retirement. We look after the entire process, including:
Managing the Sale Process
Selling your business is going to be stressful. We are here to reduce that stress by managing the process and corresponding with the various parties involved.
Selling a Business Can be Disruptive
The sale process can significantly disrupt the day-to-day operations of a business. As the owner, you will spend much time organising the sale, which takes you away from running your business. Your employees may also be disrupted as they are inevitably going to be involved. Planning is key.
Selling your Company or the Business?
Are you selling the shares in your company or is the sale on a ‘Walk-In Walk-Out’ basis? These two sale options have very different outcomes for both you and the buyer. Ask our opinion before you sign any sale contract because choosing the wrong option could have significant tax implications.
Key Employees
You need to identify critical roles in your business and who will assume those roles once you are no longer there to manage the business. Think about the impact on the business if any of these key employees leave the business when you leave.
Customer Relationships
Some business buyers like to conduct anonymous referencing with customers during the due diligence process. Think about any customers that may be currently unhappy with your service and focus on resolving those issues before the buyer gets involved.
Registrations and Licences
Think about all the government registrations that the new buyer will need to operate the business. How long and how difficult will it be for the new buyer to obtain these registrations and licences?
Stock
When was the last time you did a physical stocktake? Maybe you should do one before you list your business for sale. Poorly estimating your stock value can leave a bad impression on a good buyer.
IT
How complex is your IT system? How easy or difficult will it be to transfer control to a new owner? You should review these questions before you list your business for sale.
Restructuring
In order to introduce new owners or make your business attractive to buyers, you made need to restructure your trading entity. We will give you the advice you need to choose the right structure.
Risk Management with New Owner
We can help you structure your business sale terms to protect you from bad business management from a new owner. If the new owner is not successful it could affect the proceeds you receive from the sale. We can help you maximise the proceeds from the sale of your business.
Capital Gains Tax
We can confirm if you are eligible for the small business CGT concessions which will greatly reduce your Capital Gains Tax. These concessions can be extremely complex to understand and apply. Don’t attempt to learn and apply the legislation to your situation. Instead, get professional advice from us and rest easy knowing your tax outcome with certainty.
Succession Planning
Are you passing your business control over to your children? Or maybe a current employee? There are many issues to think about.
Retirement
Get ready! We know what you need to think about before you stop work. Don’t miss anything important by talking to us first.
Capital Gains Tax
We can confirm if you are eligible for the small business CGT concessions which will greatly reduce your Capital Gains Tax. These concessions can be extremely complex to understand and apply. Don’t attempt to learn and apply the legislation to your situation. Instead, get professional advice from us and rest easy knowing your tax outcome with certainty.
Succession Planning
Are you passing your business control over to your children? Or maybe a current employee? There are many issues to think about.
