It is important for any businesses handling data (and most do in some form or other!) to have robust and adequate protection against cyber attacks. Cyber Essentials is a Government-backed certification scheme that helps businesses to guard against the most common form of attacks. It helps provide both peace of mind for ourselves as a business and importantly for our clients that we actively work on our IT security systems with appropriate measures in place for handling sensitive data and personal information. For organisations who are applying for public sector contracts (and many private sector companies also require this), Cyber Essentials can be a mandatory requirement.
At Business Sale Basecamp, we can be some of the first people that a business owner will talk to about her/his thoughts on selling their precious business, which has usually been built up over many years with much time, effort and emotional input. Business owners are assured of confidentiality in their dealings with us.
For any business sale, there will be a lot of data (e.g. company documents, accounts, insurances, contracts of employment, customer records, etc) that need to be gathered in a data room as part of the due diligence process which takes places prior to the finalisation of the company sale. Even before that, there is typically an exclusivity period and non disclosure arrangements in place for some of the essential information which can inform the offer/selling price.
It really is never too early to be talking to us about your company sale, transition and exit plans. Additionally, beginning to establish a data room containing the necessary documents will reduce the time needed during the due diligence phase and importantly allow the business owner to continue running the business during what will be a very busy and crucial time – business performance and focus must not suffer during a company sale process, or you will likely experience a price chip!
