If you want to sell your business, we can go over your options with you: from the orientation phase to the actual transfer. There’s a lot to consider when selling your company, from both the business and the personal perspectives. This process usually begins two to five years before the actual sale. We understand that selling a business is not only a business transaction, but can also have an emotional impact. Our extensive knowledge of the sector and solid network can help you to take the next step with confidence, during every phase of the sales process.
An attractive business sells faster and at a higher price. A clear business plan will improve saleability and reduce reliance on shareholders, customers and suppliers. Consider changes in management, organisation and the fiscal or legal structure.
Your personal banker can help you with this and refer you to the right experts for guidance during the sales process. Or you can contact Corporate Finance.
The sale price of your business is determined by a valuation, often carried out by an accountant or corporate finance adviser.
If you’re considering selling to an external party, such as private equity, our corporate finance advisers can help you. You must draw up a memorandum of sale before you put your business up for sale. This provides insight into your business and your reasons for selling it. This information is important to potential buyers.
Our experts can help you compile an information memorandum, look for buyers and asses any bids, make strategic decisions about which parties are unsuitable and which party you should enter into exclusive negotiations with. Working together ensures that you make the best use of all your options and knowledge.
Once you’ve found a suitable buyer, the negotiation process will start and a formal letter of intent is drawn up. This document records the provisional outcome of the negotiations, although it can be amended as the sales process proceeds.
In addition, the buyer must have due diligence (also known as an audit) carried out on your business during the process. This should be performed by an external professional, such as an accountant, tax consultant or lawyer.
Once you’ve agreed the sale price and the buyer has arranged financing, it’s time to sign the sale contract at the notary’s office. This contract includes the agreements that were made in the letter of intent.
This is also the point at which you should inform your staff, customers, suppliers and other partners about the sale. We recommend that you compile a communications plan to create structure in the way this information is shared.
Make sure that you inform the Tax and Customs Administration correctly about the sale.
The exact steps you need to take depend on the tax structure of your business. If you’ve sold a sole proprietorship or a share of a general partnership or partnership, you will have to pay tax on the amount above the book value for tax purposes. If you’ve sold your shares in a private limited company that you own, you must settle your bill with the Tax and Customs Administration immediately.
It’s also time to think about your future assets. Our portfolio managers can help you establish your short and long-term wishes and requirements.
Make sure you understand the estimated value of your business and have a realistic idea of the proceeds from the sale. Make sure that your business and personal accounts and tax obligations are taken care of. Consult our adviser for help optimising the tax consequences of the sale. Consider the sales structure, such as selling shares versus selling assets, in order to minimise the tax consequences. It’s then up to you to decide how to use the proceeds for future plans.
A good wealth plan revolves around the questions and requirements you consider to be important. Our experts are happy to help you with wealth planning.
They will take your family, your capital and your business into account. You’ll work out how the sale of your business affects your financial situation, both now and in the future. You’ll gain insight into your financial situation as a whole, and in relation to your short-term and long-term wishes and goals. This will give you peace of mind.
Last but not least, it’s wise to think about your wishes and options for the future and your estate. Estate planning means thinking about how you wish to pass on your assets to the next generation. You and your adviser can discuss the following aspects.
