Thursday, May 22, 2008
Who to Listen to When Buying a Business in Asia?
When buying a business in Asia you are likely to find yourself inundated with advice from well meaning friends, family, neighbors – everyone is an expert and everyone has an opinion.
Who should you listen to when it comes time to make a decision that is going to be so fundamental as to how you spend your next few years? Perhaps it is necessary to rephrase the question to “Who should you not listen to?”
The process of buying a business can be slow, much time and energy will be exhausted in sourcing and researching suitable propositions. Whether you are looking at businesses for sale in Singapore or a business for sale in Thailand or Dubai the process takes time.
At AsiaBusinessInvestor.com we have a growing list of businesses and franchises available for sale that can serve as a starting point to allow you to connect with businesses for sale across Asia. Buyers benefit greatly from using professional advisors that have the appropriate skills, resources and experience relating to the particular industry that interests them. We will soon be providing links on the site to business brokers, lawyers and accountants that can ensure that the process of buying or selling a business is a success.
Two advisers that may be of particular assistance to a buyer of a business are your accountant and lawyer however it may be wrong to assume that the same accountant and lawyer that you have used previously have the necessary experience and expertise to guide you in this particular transaction. Making the right choice at this time is crucial as to how smoothly the transaction will proceed from this point forward.
Preferably you will be seeking advisers that have previous experience within commercial and business law, company transactions, possible tax consequences and how best to structure a business agreement. Someone who specializes will be able to add value to the deal, a true professional recognizes when advice outside their area of expertise is needed and they will know when to refer you to someone else.
Ideally you will have discussed your intention to buy a business with your accountant and lawyer prior to proceeding, and once having sourced what appears to be a suitable business it is prudent to listen to their recommendations prior to signing a conditional contract to purchase.
Your lawyer will help you understand exactly what is in the contract and what your responsibilities are should your offer be accepted by the seller. In all likelihood the conditional contract will be subject to a due diligence investigation which allows the buyer time to conduct more intensive research into the entity. It is during this process that your advisers need to be exceedingly proactive, assisting you in every way to ensure all necessary enquiries are made and answers are provided in an opportune manner.
Anyone can (and will) advise you on buying a business in Asia, nevertheless only a specialist with experience and familiarity within the industry and with the size of entity you are considering will be able to give you the expert advise you deserve. So if you are buying a business in Malaysia or buying a business in Thailand, or even buying a business in Singapore you should look beyond the well meaning opinions of friends and family, spending money on professional fees is a worthwhile investment.
Who should you listen to when it comes time to make a decision that is going to be so fundamental as to how you spend your next few years? Perhaps it is necessary to rephrase the question to “Who should you not listen to?”
The process of buying a business can be slow, much time and energy will be exhausted in sourcing and researching suitable propositions. Whether you are looking at businesses for sale in Singapore or a business for sale in Thailand or Dubai the process takes time.
At AsiaBusinessInvestor.com we have a growing list of businesses and franchises available for sale that can serve as a starting point to allow you to connect with businesses for sale across Asia. Buyers benefit greatly from using professional advisors that have the appropriate skills, resources and experience relating to the particular industry that interests them. We will soon be providing links on the site to business brokers, lawyers and accountants that can ensure that the process of buying or selling a business is a success.
Two advisers that may be of particular assistance to a buyer of a business are your accountant and lawyer however it may be wrong to assume that the same accountant and lawyer that you have used previously have the necessary experience and expertise to guide you in this particular transaction. Making the right choice at this time is crucial as to how smoothly the transaction will proceed from this point forward.
Preferably you will be seeking advisers that have previous experience within commercial and business law, company transactions, possible tax consequences and how best to structure a business agreement. Someone who specializes will be able to add value to the deal, a true professional recognizes when advice outside their area of expertise is needed and they will know when to refer you to someone else.
Ideally you will have discussed your intention to buy a business with your accountant and lawyer prior to proceeding, and once having sourced what appears to be a suitable business it is prudent to listen to their recommendations prior to signing a conditional contract to purchase.
Your lawyer will help you understand exactly what is in the contract and what your responsibilities are should your offer be accepted by the seller. In all likelihood the conditional contract will be subject to a due diligence investigation which allows the buyer time to conduct more intensive research into the entity. It is during this process that your advisers need to be exceedingly proactive, assisting you in every way to ensure all necessary enquiries are made and answers are provided in an opportune manner.
Anyone can (and will) advise you on buying a business in Asia, nevertheless only a specialist with experience and familiarity within the industry and with the size of entity you are considering will be able to give you the expert advise you deserve. So if you are buying a business in Malaysia or buying a business in Thailand, or even buying a business in Singapore you should look beyond the well meaning opinions of friends and family, spending money on professional fees is a worthwhile investment.
Labels: asia, business brokers, business for sale, businesses for sale, buying a business
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