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Selling your business starts long before it goes on the market

Private equity firms are no longer the only buyers in the market. As more investors look to acquire Australian businesses, founders need to understand what makes a business truly sale-ready.
Business owners and staff meeting in a small business discussing operations before a business sale.
Experts say buyers are increasingly looking for profitable businesses that can operate independently of their founders. Image: Adobe Stock

For many founders, selling their business is the ultimate reward after years of hard work. But while recent Reserve Bank of Australia (RBA) research suggests profitable, medium-sized businesses are among the most likely acquisition targets, the buyer landscape is changing, and so are buyers’ expectations.

Selling a business no longer means appealing to one type of buyer.

James Frank, chief executive partner at Frank Law, says trade buyers, entrepreneurs through acquisition, search funds and private equity firms all remain active, with growing activity from private capital.

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