Here are a few tips to consider if you are looking to buy a business
Get the right advice in the pre-planning stage, it could save you a lot of headaches!
To start or buy an existing business, you need the right advice at the beginning, but before all that there are things that you will need to consider are:
- Is going into business right for me?
- Is going into business in line with my personal, family and financial goals?
- What are my reasons for going into business?
- Am i fully aware of the risks involved?
Do you have a business plan?
At HBT Advisory, we have the experience necessary to have these discussions with you and also provide you with the right advice on your business plan as well as guide you on the most suitable structure to run your business.
We encourage our clients to think of the stages of the business life cycle and consider the business in a start up, growing, mature and ultimately a succession phases of their business. Remember, a business plan isn’t set in concrete and it can be used as a pathway to navigate you on your journey in business.
Asset Protection – Protecting your assets should things go south!
It is vitally important to have mechanisms in place to protect your assets, particularly assets such as the family home. At HBT Advisory, we discuss ways of protecting your assets.
To discuss any of the items here, feel free to contact our office to arrange a time to meet with Andrew Harper, Managing Director of HBT Advisory here in Pakenham to discuss your business goals and objectives.