Whatever the reason behind your decision to sell your pharmacy, it’s important to give yourself enough time to prepare your pharmacy for sale, as prospective buyers will be looking for a number of factors when conducting their due diligence.
When buying a business, there are many important legal considerations to take into account and lots of pitfalls to look out for—even more so when buying a pharmacy. This is because the pharmacy industry is highly regulated, and pharmacy owners are legally bound to protect the wellbeing of patients and the public in the way they run their business.
It’s not uncommon for sellers to think that a sale is as good as complete once the heads of terms are signed. However, signing heads of terms (also known as letters of intent or memoranda of understanding) is only the first step in starting negotiations for a sale and purchase agreement (SPA).
In challenging economic times, it is not uncommon for businesses of all sizes to find themselves in dire financial straits, which can lead to a company becoming insolvent. While insolvency is not a desirable scenario, some insolvency procedures can be the life raft a drowning company needs to get back on its feet. With this in mind, here are six key things every business owner should know when it comes to corporate insolvency in the UK.
For most business owners, their long-term goal is to expand the business they’ve built, and many turn to mergers and acquisitions (M&A) as a route for fuelling business growth. However, M&A typically entails an intensive upheaval process; the only way to ensure that this upheaval will be worthwhile is by carefully managing the merger or acquisition from the outset, and adopting the right strategy.
As part of the UK Government’s trust and transparency agenda, the Small Business, Enterprise and Employment Act (SBEE) is now in effect as of April 2016. If your business is a UK incorporated company or limited liability partnership (LLP), this means you’ll be required to set up and maintain a ‘people with significant control’ (PSC) register. This article provides a helpful overview of the new PSC requirements, and briefly explains the steps for compliance.
Following the 2008 financial crash, there was a stream of news headlines announcing the liquidation of many well-known corporate powerhouses. Yet many business owners may still be unclear on what liquidation actually entails or what the role of a liquidator is. Here, we discuss the circumstances leading to liquidation, as well as the powers of a liquidator.
While buying or selling a dental practice is largely the same as buying or selling any small business, there are a number of additional considerations that come into play for dental practices. Here, we highlight some of the considerations for a first-time buyer or seller of a dental practice, to help both parties prepare for the transaction well in advance.
With more and more start-ups making headlines for multi-million-pound acquisitions by powerhouses like Facebook and Google, it’s unsurprising that many of today’s entrepreneurs are setting up their businesses with the ultimate goal of selling. Regardless of whether your chosen exit strategy is selling or an alternative, it’s important to plan well in advance when starting and building your business.
The UK is an increasingly attractive destination for overseas investors seeking lucrative business opportunities. This is largely thanks to the UK’s welcoming business climate and well-established legal precedents for foreign mergers and acquisitions.