In my last posting, I outlined what attorneys do to help business people buy and sell companies. Of course, attorneys aren’t the only professionals who work on company sales. Business brokers collect listings of companies available for sale, make those listings available to the public, pre-screen buyers, and facilitate the closing of the deal. (In some ways, they are analogous to a real estate broker helping you buy or sell a home.)
I recently spoke with Paul Corrigan, a business broker at ROI Business Broker. During our conversation, Paul shared how his firm prepares a confidential business memorandum to promote transparency and minimize the chances of the transaction going off-course. Paul also discussed the importance of confidentiality in the company sales process, the positive impact of recent SBA legislation, and how buying and selling businesses stimulates the economy.
(Click below to listen to a 5-minute excerpt of my conversation with Paul.)