Buying a business in New Zealand is a significant decision and investment, so knowing how to approach it is essential. Before moving forward, make sure you should conduct due diligence – the process of gathering information about the business on offer. This information will help you make a sensible commercial decision. It will help you understand why the vendor wants to sell the business and learn about its customer base and supplier contracts.

Other areas to consider are:

  • who owns the key assets;
  • whether there are any ongoing liabilities; and
  • any current or past disputes.

It is also a good idea to seek professional advice to confirm if the business is correctly valued.

LegalVision’s commercial lawyers have experience at all stages of buying a business, from due diligence through to settlement. They have drawn on this experience to write a series of articles on buying and selling a business to assist you. 

 

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