If you are looking for business for sale in Bangladesh and the venture details sound interesting, then there are a serious of crucial questions that you need to ask the buyer in this regard. This is going to make it a lot easier for you to purchase a business that meets your needs and expectations. Similarly, if you are selling a business venture in Bangladesh, then you need to prepare some answers for the crucial questions as this is going to enhance the chances of a successful and effective business sale.
The very first step here is to get hold of any ‘detailed’ and comprehensive exchange of information which should be used in the preparation of the non-disclosure contract. You attorney should guide you to prepare such a contract that should make sure that both the parties meet their obligations when it comes to privacy and confidentiality. It has been recommended that this is agreed fairly in the beginning of the process as it is beneficial in safeguarding the seller of the business from the prospective competitors using the business sale for details gathering purposes.
As soon as the non-disclosure agreement is in place, it is recommended that you ask the following questions:
- Why selling the business?
- How long you have been in the business?
- For how long you have been doing business at the present locality?
- Did you establish the business yourself or bought it from someone?
- What is the legal standing and structure of the business?
- Do you have financial statements and tax returns that an accountant may look into?
- Which bank you do business with?
- What sort of an insurance cover your business carries?
- What kind of licenses are needed to run or own the business?
- How many hours did you work per week in your business?
- Total number of employees?
- Any family members involved in the business?
- Are the family members going to be a part of the business after the sale has been conducted?
- Payment would be made in full or in installments?
- Would you be working after the business has been sold?
- Do you have any long term obligations or long term agreements to third-parties with the business?
Your attorney and accountant can guide you with the questions themselves. The questions are imperative whether you are looking at businesses for sale in Bangladesh or in any part of the world.
