JPAbusiness

The short answer to this question is yes... and no.

Buying a business that provides you with a good job is definitely a worthwhile strategy, as long as it doesn’t just provide you with a job.

If you own a business, what are the main risks you will be taking?

• Operational risk – As a business owner you count on your systems and processes to work in a predictable manner and accept the risk of those systems and processes failing. For example, your safety system could fail and cause injury to an employee, or your manufacturing system could break down, causing you to default on a major customer contract.

Topics: Buying a business, business advice, Business advisor, business ownership, business broker, James Price, JPAbusiness, Parramatta, financials, redundancy, buy a business, Central West NSW, business sale transaction advisor, business transaction advisor

This week we're sharing Part II of our video series on how to communicate with your bank, financier or investors, and what pieces of information to share, if you’re looking to secure funding in the current environment.

The goal is to ensure your financier has a clear understanding of how your business is tracking, so they can feel confident in supporting you.

Last week we focused on profit and loss information. This week's video details the critical elements of working capital you need to share with your financier.

Topics: Business advisor, James Price, JPAbusiness, Parramatta, business finance, financials, cash flow management, COVID-19, business strategy, coronavirus, scenario planning, liquidity

The short answer to this question is yes... and no.

Buying a business that provides you with a good job is definitely a worthwhile strategy, as long as it doesn’t just provide you with a job.

Topics: Buying a business, business advice, business ownership, Parramatta, Orange NSW, financials, redundancy, buy a business

We are often engaged by business buyers to assist them in undertaking due diligence on target businesses.

In the early stages of that process I often come across vendors who have an accountant, business broker or other advisor who is very coy about sharing what I would call basic financial information on the business.

If you are seeking a purchaser’s genuine offer on your business – whether non-binding or binding – at a minimum, you should be prepared to share the following:

Topics: Selling your business, Advice, selling a business, Business advisor, James Price, Parramatta, Orange NSW, financials