Due diligence when buying a business

When you buy a business, you’ll want to find out whether the business is viable for you. This will depend on your experience in the sector, your appetite for risk, and your appetite for hard work.

It’s also important to understand the financial state of the business, and the state of its assets. A corporate finance adviser can help you work out what questions to ask the person selling the business, and they can also help you to analyse the answers.

Funding the purchase of a business

There are various funding sources for buying a business, and your accountant can help you to understand the benefits and pitfalls of each. Whether you are getting a bank loan or drawing on investment from venture capitalists or family members, your accountant will help you to work out how you can cover the down payment as well as the interest costs and closing costs.