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Who should I sell my business to?
Clearly your options will depend on who is interested in your business, and how much it is worth to them. Selling to a well-funded trade purchaser can be the best choice, but it depends on the circumstances. Your business might be particularly valuable to a company with weaknesses in the areas you specialise in.You will want to ensure that any potential purchaser has the finance in place to make the purchase. For example, you might ask a potential purchaser to show indications of support from investors or banks who will finance the purchase.
Ideally, you will only negotiate with potential purchasers who have a serious interest and are willing to negotiate constructively. For example, you will want to judge whether a trade purchaser is simply using the opportunity to find out about your business. Similarly, a purchaser might be interested only in part of your business, or not prepared to take responsibility for all the existing liabilities. If this is unacceptable, you will need to find another purchaser.
