Buying & Selling a Business – Advice and Tips

Are you thinking about buying an existing business and want to know which items you should check first? Or, are you a business owner who wants to sell your business and move on? This portal at Bright Hub’s Entrepreneurship Channel is dedicated to giving tips and advice to those considering buying or selling a business, whether you’re the current owner or prospective buyer.
Before you make the decision to purchase an existing business, make sure you’ve done your homework and have practiced due diligence. In addition, if you’re entering the venture with partners, protect yourself with a buy-sell agreement.
If you’re on the other side of the fence and looking to sell instead of buy, be prepared to pay the taxes associated with selling your business. Also, check out some of the strategies offered by our panel of experts on how to get the best price possible when making that sale.

Checklist for Buying Out a Business Partner

When buying out a business partner, certain steps should be kept in mind for a smooth and easy buy out process. Chances are the process could turn into a nightmare if no preceding formal agreements were made. This article offers some important points to consider for buying out a partner.

Do You Need to Pay Taxes After Selling a Small Business?

Did you know that the sale of your small business might be subject to tax? When a business changes ownership there are still some final steps the previous owners need to follow through with. These steps include how to report the income or loss of your sale on your personal and business return.

How to Go About Selling a Small Business

If you are looking at selling your business, make sure to adopt the correct approach and sell for profit, security, and revenues. Prepare the business for sale by taking stock and preparing a good proposal, spread the word around by every means possible, and wait for a good buyer.