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Starting a Business


Introduction


While there are no accurate statistics, over 50% of start up businesses fail within the first 5 years.

 

Planning is accordingly of vital importance prior to commencing a business.

 

In our work with business purchasers we have found that the five common mistakes which people make when purchasing a business are:

  1. Not taking legal advice before signing the agreement for sale and purchase. It is essential that a due diligence clause, drafted by a lawyer, is included in the sale and purchase agreement before you sign it, so that you can make all necessary inquiries to ensure that the business is as profitable as it is said to be, is not over-priced, and is suitable for your needs.
  2. Where appropriate failing to obtain:
    1. A valuer’s report
    2. Advice from an accountant on the accounts for the business.
    3. Advice from ourselves on the terms of the lease.
  3. Getting no, or inadequate, advice from their lawyer on the business purchase process.
  4. Failing to negotiate the best finance terms with lenders.
  5. Getting no, or inadequate, advice on who should own the business - yourself, a trust, a company or a limited partnership.
 

Getting no, or inadequate, guidance from their lawyer on the business purchase process.

 

There is no need for you to make these mistakes.

 

This page of our web site contains the information which you need in order to guide you through the purchase process.


See a Business Law expert

You need to instruct a business lawyer, such as ourselves, to assist you with your purchase. We would like to offer you a half hour, free, no obligation session to discuss your business purchase before you sign an agreement. Please call us now on + 09 415 0099 or email us on rossholmes@rossholmes.co.nz for an appointment on at date and time that suits you. For clients who live out of Auckland we can hold meetings via skype or telephone.


Our promises

1. If you are purchasing or setting up a business, you can come and see one of our business law experts for 30 minutes without cost. We can relate everything we know to your personal situation.

2. We are here to support you as required through your business set up or purchase.

3. We look forward to meeting you, and assisting you to establish or purchase your business.

 
 

If you are not our clients call the experts at Ross Holmes Lawyers for a

free 30 minute appointment

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