- November 5, 2013
- Posted by: admin
- Category: HIring A Melbourne Accountant, Small Business Accounting
Every single day, a lot of small business owners have been known to make costly mistakes especially when it comes to selling their businesses. Without the professional assistance of a Melbourne accountant, you can actually stand to lose thousands of dollars in the process. Not only that, all your hard work can potentially go down the drain.
Aside from the services of a business broker, a Melbourne accountant makes a valuable ally that you want to work with when contemplating a business sale.
We have tackled common mistakes in the previous articles, so here are a few more you want to discuss with your Melbourne accountant and avoid at all cost:
Not Planning Ahead
A lot of people make the costly mistake of waiting too long or not having a business exit plan in place. This can cause you to potentially miss a lucrative window of opportunity. In general, it typically takes an average of 2 to 4 years to sell a business. This means it requires careful planning with your Melbourne accountant, typically at the start of the business.
Not Having Someone To Represent You
Some business owners do not recognise the need to work with a business broker or a Melbourne accountant in selling their businesses. Getting professionals to help you out can actually make a world of difference in the success or failure of your business sale.
You will want to work with an expert in getting in leads and preparing your financial reports as these are some of the first documents every prospective buyer would want to check.