Many people don’t spend enough time looking at their business.
Compare how much planning goes into a wedding, a purchase of a big item (like a boat, new car or caravan) and how much time is spent planning for a business. We often find that despite a business being worth many times that of a large purchase, the business receives either a tenth of the effort or a great deal of unstructured effort.
There are many reasons for this. Among these are that after running your business all week, people are short of time. Often there is just a feeling of not knowing where to start.
In addition, accounting reports are often full of jargon and concepts that need explaining. Have you ever felt that the numbers that you get from your accounting systems are just that… numbers. Ever speak to your Accountant or people in your business network and get a vague feeling that there is something more?
Setting up, buying or changing a business
Due Diligence on proposed purchases
Understanding the financial aspects of your prospective purchase is critical; as well as what liabilities or ongoing costs you may expect. Buying or selling a business is a major decision and the numbers presented are only a starting point. Getting good financial and business advice is crucial. Sometimes the question is not whether or not it is a good decision, but whether it is a good decision now. Emotions can run high and engaging OBB Accountants makes sure that you are get high quality financial advice and you are told what you need to know, not what you want to hear.