When to rely on outside help?
Business Transaction Experts
Several organizations specialize in ownership transfers. We recommend exploring free informational materials provided by these organizations and utilizing free initial consultation services whenever available.
Take Advantage of Free Initial Consultations
A good rule of thumb is to seek expert assistance in matters beyond your expertise. Initial consultations are usually free of charge (although paid services are also available at this stage). Later phases may also include free services depending on the topic. If you’re preparing to sell your business, the first step is to start discussions with your accounting firm. For buyers, securing financing is critical—it’s wise to contact your bank early to explore funding options.
Low-threshold initial consultations provide an introduction to the ownership transfer process, how to initiate it, and how to proceed. These consultations do not include business valuation or participation in transaction negotiations but will direct you to the appropriate services as needed.
Organizations Offering Initial Consultations and Additional Information
You can also seek help from organizations promoting entrepreneurship, as well as national and regional ownership transfer projects (e.g., 4H, Yrityskylä, etc.).
Utilizing Experts in Business Transfers
Leveraging the extensive knowledge and experience of experts such as business brokers, lawyers, and tax and financial specialists can significantly ease the process of executing business transactions. Their assistance can save time and effort, reduce risks, and facilitate decision-making, even during the initial planning stages of a business transfer. Meeting with a business broker is particularly valuable when guidance is needed to navigate the entire process. While these expert services are generally fee-based, some providers may offer initial consultations free of charge.