Today I recieved Heads of Terms for a small start up business sale <£100,000. They were ‘not exhaustive’ nor ‘legally binding’, but the seller had advertised using a business sales platform, including a fee. Major details that had already been discussed (facilitated by the platform) between the buyer and seller were incorrect. The buyer and seller had already signalled intent, met, and were both pro-actively working towards a conclusion.
So what value should a business sale platform bring? We think most small business founders will have already developed the majority of skills required to sell by the time of sale (with maybe a small amount of legal advice)…. a route to market? What else?
