Business Law FAQ - Looking to purchase business, owner has two books?
Date: March 03, 2011
Q. Currently I am looking to purchase a business. I found a great one but am somewhat unnerved as the owner has two sets of books. Can you help me and is there anything I can do to check the performance of the business?
A. Yes. You need to retain the services of a legal practitioner and of a good accountant. The lawyer will look into legal risk management and the accountant financial risk management. Despite this, you should never purchase a business unless you are fully satisfied it is what you want and it is absolutely necessary, where the owner is running two sets of books that you insist upon an appropriate trial period. Remember if it does not work out then you could lose everything.
