What is Due Diligence?
Due diligence is the investigation or research that is undertaken by an experienced accountant such as Watt & Co Accountants prior to entering into an agreement or contract with another party to purchase a business, asset or property, It is not a legal obligation when buying a business or asset but is highly recommended to ensure that you are going to receive exactly what you think you are buying. Many tricks and deceits are practiced when selling a business or property and a thorough check of the business is always recommended. It is not a guarantee that a business is a good business to invest in but it does give you peace of mind that it has been thoroughly checked over by an experienced professional before you spend thousands or tens of thousands of pounds.
Thinking of buying a business?
Then don't spend a penny until you have done due diligence on the business you are thinking of purchasing.
Buying a business is a minefield and you can easily waste some of all of your money on a business that may not be all you think it is. The profits could be falsified or inflated, the assets could be over-valued, the business could be in terminal decline, there could be problems with the lease, planning or other issues or even on-going litigation against the business...the list is endless.
Luckily as experienced business accountants we can fully vet any business that you are looking at before you have parted with any money or legally tied yourself in.
Contact us to organise a free consultation to discuss the business you are considering buying.
Contact Dave on 01803 411684 without delay.