Exceptional Legal Services Personalized For Your Business

  1. Home
  2.  | 
  3. Mergers & Acquisitions
  4.  | Tips for merging businesses successfully

Tips for merging businesses successfully

On Behalf of | May 20, 2020 | Mergers & Acquisitions

Business mergers are typically pursued when it is the best option for both businesses and their stakeholders. While the concept is generally a positive thing, transition times can be difficult and challenging.

We understand how the law applies to business mergers and acquisitions and have helped many of our clients complete these successfully. Keep reading for tips on how to successfully merge your business with another.

Do some digging on your potential partners

There is nothing worse than finding out someone’s business ideals do not mesh with yours. Before you join your business with another, take the time to fully investigate the people you will be partnering with. Interview their employees to get an understanding of how they view their employer as a leader. An employee’s attitude can tell you a lot about what it is like to work with them.

Ask for references and contact those references to get an idea of how other professionals view them. Also, do not forget to run a background check on your prospective partners.

Examine your possible partners’ books

Examining the recordkeeping of your prospective partners will help you identify abnormalities or inconsistencies. Forbes.com mentions that not only should you review the books, but you will want to have your financial team examine them as well.  It is a good idea to go back and check the records for at least five or seven years. Additionally, you should check to see if there have been any problems with state or government tax entities. If anything appears fishy, you may want to reconsider the business merger entirely. More information about this topic is available on our webpage.