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deal is right for the current owner of the business, never mind the future owner, is very important.”


Tim Mills, partner at accountancy and business advisory group Azets, also spoke of the personal element in any deal.


He said a big part of an advisor’s role was getting to know its clients and the background to their businesses.


You need to build trust


between yourself and the client to understand what issues you may need to address


Tim emphasised that when it came to deals, whether selling or buying, it was both stressful and time-consuming for those involved.


And he spoke of the emotional impact of disposing of a business, adding: “Never mind the pounds and pence, there are people involved.”


Benjamin Dredge, managing partner at CG Professional, said for owner- managers the sale of their business is a milestone event. He added: “Understanding them as a person is incredibly important.


“You need to build trust between yourself and the client to understand what issues you may need to address. Getting to know them fundamentally is crucial right at the outset.”


 said part of the process was making businesses “investment ready” and in the right shape to take them to lenders and investors.


He added: “It is having that complete picture, so that when lenders and investors have a look, they have a really good feel for the business.”


Unlocking finance for Lancashire’s SMEs a2flancashire.growthco.uk


LANCASHIREBUSINESSVIEW.CO.UK


35


DOING THE DEAL


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