From the pocket book series "Be a winner"
Publisher: Frontrunner Publishing
Author: Bob Power
The book gives the reader useful hints on buying a business, and on the premise "Keep it simple", without jargon and legalese. The author draws on his many years of experience in the field of buying and selling businesses.
The book is aimed primarily at the SME market with the intention of equipping the buyer with the basic information and knowledge needed to negotiate a transaction.
It must be stressed that the book is simply to be used as a base on which to build an understanding of the buying process.
The book is aimed at three distinct markets in the SME sector – Entrepreneurs, Retrenchees and School Leavers. Although the needs and assistance required for these three groups are different, the understanding of business is the same for all of them.
It is pointed out that, if the buyer is aware of the many pitfalls and perils in the buying process and checks all the facts and information available, he or she will be better armed when finally putting pen to paper. Why is the business for sale? If the answer is not known, don't buy.
The book covers the full ramifications of buying a business – from how to value, terms of payment, how to find/fund a business, BEE, corporate governance, financial and legal compliance, warrant ties/indemnities, to due diligence and negotiations. The reader therefore has a clear picture of what it is all about. However, it is made clear that if you don't understand business, don't buy and don't sign documents that you don’t understand. Being penny wise and pound foolish is a risk if advisers aren’t used, but the buyer is advised to put in writing anything agreed, especially as to what it will cost, what is to be supplied and when delivery will be affected. The adviser works for you.
It’s impossible to cover the total package in a book of this nature, but it is a sound beginning with an abundance of information. The reader's appetite should be sweetened enough.
Contact person: The author, Bob Power at tel: (011) 880 7850
Books available at Exclusive Books and CNA
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