Buying a business is one of the biggest life purchases you can make (next to buying a house). As such, taking people on face value without the proper checks and balances is fraught with financial risk. If you are considering purchasing a business, it is imperative that you conduct necessary due diligence to ensure that you understand the nature of the business being purchased and related matters. In a practical sense, engaging in a suitable due diligence process allows the opportunity to investigate relevant aspects of the business, its structure, operations, financials, assets, existing customer/ client base, existing contracts and any relevant liabilities or risk considerations.
In completing this process, it is advantageous to receive additional taxation advice to ensure that your interests are being protected and the investment you make is the best it can be. Forge Legal is best placed to provide legal due diligence assistance in relation to a prospective business purchase to help ensure you get all the details as to what you pay for.