Planning to sell your business – make sure your records are up to date
Before any sale of a business, the Seller will ask for your company records and financials as part of due diligence. Smaller businesses many times have not kept written records which many times loses the sale before negotiations even begin. Be sure to keep your records up to date, especially your records with the Arizona Corporation Commission (ACC) as they may be accessed online. If your public records are wrong, you may not even get the query about a purchase of your business because the Seller may think that if you can’t keep the simple things up to date, what else has fallen by the wayside.