For most start-ups, the idea of building the business and then selling it is not uncommon. We've seen it with larger companies such as Instagram and WhatsApp, and many smaller companies also tend to go down this route. Ceding control of your brainchild can be a difficult decision and preparing your business for a potential sale can be a lot of work if you don't know where to begin. Here are some things you should take care of before you decide to make the jump. Clean your house Make sure your paperwork is presentable and up to date - do not wait for a buyer to pop up. This is no different to starting to clean your house only when your guests are at the door. Organise your invoices and financial statements. Anticipate questions that potential buyers will have regarding your finances and have the answers handy. If there are any loose ends, tie them up. Working capital is one of the key metrics a buyer will look at, so let your clean-up revolve around making this aspect of your busines...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now