How do I tie up legal and operational loose ends before selling?
Legal and operational steps to take before selling
Before listing, resolve any outstanding legal or tax issues, renew expiring leases and update systems or equipment that don’t workhttps://businessfundinggroup.com/blog/10-steps-to-selling-your-small-business/#:~:text=4,Resolving%20Tax%2C%20Legal%20Issues%2C%20etc. Ensure your business meets health, environmental and zoning requirementshttps://www.score.org/resource/blog-post/due-diligence-and-valuation-process-when-buying-a-business#:~:text=Be%20fully%20aware%20of%20existing,licensing%2C%20permits%2C%20and%20zoning%20compliance. Review contracts with suppliers and employees and understand upcoming expiration dates and potential cost increaseshttps://www.score.org/resource/blog-post/due-diligence-and-valuation-process-when-buying-a-business#:~:text=Review%20all%20existing%20contracts%20with,could%20be%20trouble%20for%20you. Make sure licenses and permits are current. Document operational processes and fix broken equipment or facilities to show the business runs smoothlyhttps://www.investopedia.com/articles/pf/08/sell-small-business.asp#:~:text=Your%20information%20packet%20should%20provide,about%20employees%20and%20their%20roles. We help you collect and organise the necessary documents and guide you through legal considerations, always ready to answer your questions and provide reassurance.