Tips from Lawyers on Buying or Selling a Business

The SBDC’s video titled “Realizing the Dream: M&A Under $100k,” showcases law professors discussing how to help entrepreneurs buy or sell a small business and how they have structured the deal. “Small business deals can sometimes be more complicated than mergers of large corporations,” said Tom Sharbaugh, Director of the Entrepreneur Assistance Clinic at Penn State Law. “There are a lot of deals under $100,000, such as selling a barber shop or a restaurant and these entrepreneurs typically can’t afford to hire a full suite of accountants to complete audited financial statements, for example. In fact, we often see employees buy a small business without this.” His stories and tips guide entrepreneurs in completing this due diligence on their own, creating a letter of intent and structuring a purchase.

The Washington County Community Development Agency’s new program - What’s Next CEO - is here to help businesses accelerate their growth in many ways. For more information on buying or selling a small business and many other resources, contact our Open to Business advisor Tyler Hilsabeck for free support.