FAQs | Eddisons Business Sales

How long will it take to sell my business?

Several factors play a role in defining the timeline to sell your business, such as its size and complexity, current market conditions, and your preparedness. However, most businesses can expect to be sold in six to 12 months.

What do I need to sell my company?

Typically, you will need financial records, legal documentation and operational information. It will also be beneficial to share the details of your customer base, assets and liabilities. Our team will let you know what you need during your initial consultation, so book yours today to learn more.

Do I need a lawyer/solicitor when selling a business?

Yes, it is highly recommended that you instruct a lawyer or solicitor with extensive business sales experience. They can ensure that all legal issues are resolved during the sale.

Can I sell a certain percentage of my shares?

You can. If you are not ready to part ways with your firm completely but want to raise funds for other ventures, it is possible to sell a certain percentage of your shares. These deals can be complex, so we will discuss the feasibility before our work commences.

Will I pay tax when I sell my company?

It is possible that you will pay Capital Gains Tax when you sell your business. We recommend speaking to a financial advisor for more specific tax advice.

Can I sell my business if it is in debt?

Selling a business in debt is possible, but the process can be more complex. Proceeds from the sale will be used to clear what you owe, and any remaining funds will be returned to you and any other stakeholders.

How much does it cost to sell a business?

Unfortunately, it can be difficult to provide precise figures without understanding your business first. Please contact us and tell us about your firm, its challenges and why you want to sell. We will then be able to provide a more accurate figure for our services.

What happens when I sell my business?

You will receive the funds left over after we take our service fee and clear any outstanding debts, and the business will be transferred to the new owner. You will then be absolved of any responsibility to the company.

When is the best time to sell my business?

While we cannot make guarantees, there are some circumstances that may help you get more money when you sell a business. These include:

During/following strong financial performance

When the market is favourable to your business type

After a strong recruitment drive, which may reduce the risk to new owners

It can also be a good time to sell when you are personally ready to move on. You may have a new venture lined up, want to retire or have burnt out and can no longer give the business what it needs.

Frequently Asked Questions