People are the key

By Tim Mills, partner, PM+M.

The corporate finance team at PM+M continues to be very busy providing advice and support on a wide variety of deals.

They vary in size, structure and industry, but most importantly they all involve different individuals. As advisers, we are involved in transactions daily, but for many clients, particularly those selling, they may only be involved in that one deal.

There are many variables involved in every deal with the potential for issues to arise that could lead to significant problems or ultimately the collapse of a deal. With this in mind it is essential that you and the business are well prepared from the outset.

Take as much time as you can to plan when considering an acquisition or disposal.

Do not be rushed into a deal and do not proceed without obtaining the necessary expert advice on matters that are beyond your own knowledge and experience. It is essential that decisions are made on the best information available.

Selling or acquiring a business is often a stressful event in the lives of those directly involved. This may lead to a change in the behaviour of individuals. This is normal and should not be allowed to make any significant impact on the deal or take the focus away from the end goal.

At PM+M we communicate with our clients throughout the process. This ensures that all parties are aware of any matters arising, as they arise. It also builds a strong working relationship between ourselves and the client.

This means they will contact us if they have any concerns they want to discuss, or just to hear a friendly voice that provides comfort and reassurance. Buying or selling a business is often driven by the numbers but the outcome of any transaction will depend upon the people involved and their determination to succeed.