Buying an Existing Business

Last year we helped a client of ours buy the business from the owner, for whom he was working.

This task involved setting our client up as a sole trader, registering him for VAT and PAYE with HMRC, negotiating the lease for the rental of the business premises and preparing a business plan, so that our client could open up a business bank account and arrange financing. We also prepared weekly cash flows for the first three months of trading for our client, to ensure that our client had sufficient funds available to keep the business afloat.

Subsequent tasks have involved negotiating reduced contracts for utility bills, so that our client was able to buy the van of his dreams on hire purchase, with some of the money he was saving every month.