1. Order and structure
Organise corporate documents, minutes, contracts and financial records. A clear structure makes buyer questions easier to answer and gaps easier to identify.
2. Reduce owner dependence
Document working practices and delegate responsibilities. A buyer needs to understand how the business operates without the owner managing every decision and customer relationship.
3. Formal customer relationships
Review important customer contracts and document their terms. Consider duration, termination, assignment and change-of-control provisions.
4. Ownership structure
Review the share register, shareholders’ agreement (SHA) and owners’ expectations. Alignment on objectives and timing helps preparation.
5. Do not forget tax
Discuss tax questions early with a tax adviser. Structure and timing may matter. Liljedahl Advisory does not provide tax advice.
