The sale/takeover of a business: surround yourself with the right people
Have you identified a business (company or business assets) to take over? Are you an entrepreneur wanting to sell your business?
Most often, the natural reflex is to contact your (chartered) accountant. This is an appropriate step for the first stage but afterwards you will need other experts to support you: lawyers for the many legal aspects, valuation experts, real estate experts if there are properties, etc.
In Brussels, there are structures dedicated to the transfer of businesses that can support sellers as well as buyers or even both seller and buyer. These structures provide (free) experts in the field to support you with the legal, economic, negotiation, etc. aspects. Discover the specific features of each of these structures below and get in touch with the ones that could be right for you!
Reload Yourself
For whom?
Reload Yourself supports buyers, i.e. anyone who wants to buy a business, whether it is an SME, a local business or a self-employed activity. Reload Yourself helps you to analyse your takeover project in an informed and professional manner.
One condition: you must live in the Brussels-Capital Region or take over a business with its head office/operations located in the region.
How does the support work?
Reload Yourself is a cooperative of takeovers. Each takeover is unique and the support offered is therefore tailor-made and can last up to 24 months. Depending on the situation, Reload Yourself provides step-by-step support with all the necessary expertise (financial, governance, legal, etc.) in all phases of the transfer, namely:
- Diagnosis: the support begins with an analysis of the opportunity to take over the business with you. Reload Yourself helps you, for example, to assess your entrepreneurial profile, to establish a health check of the company to be taken over, to determine the real value of the company to be taken over, to draw up a financial plan, to define the financing structure for the takeover, etc.
- Takeover coaching: once the takeover opportunity has been validated, Reload Yourself will support you in your efforts and will help you in particular to prepare your discussion with the seller, to draft a letter of intent to purchase with conditions (as in a real estate purchase agreement), to seek financing, to draw up a tax and social audit (if necessary), to draft the final deed of purchase...
- After the takeover: if necessary, we help you to develop your business after the takeover in more specific areas (e.g. sales, marketing, financial management, etc.).
Furthermore, if you are unemployed, Reload Yourself can offer you the opportunity to take over a business while maintaining your unemployment benefits for 18 months.
Contact : Register via the registration form and a member of staff will get back to you shortly.
More info: www.reloadyourself.be
Maison du repreneuriat - Families in Business Chair (ICHEC)
For whom?
The Maison du Repreneuriat offers a series of workshops and support for both sellers and buyers of family and non-family businesses.
Particular attention is paid to small businesses, which have less easy access to these services.
How does the support work?
All the topics required for a transfer or takeover will be covered by experts during the training cycle, in the form of face-to-face sessions, videos or remote exercises.
- The cycle will cover the following topics: communication, diagnosis, valuation, financing, positive social impact, legal and tax aspects, governance, association, negotiation and the 100 days after the transfer.
- The complete cycle comprises 10 workshops. To register, an application form must be completed by 17 March 2024. It is available on our website: https: //chairefamilles.ichec.be/candidatures/
- Our workshop cycle is subsidised to a large extent by the Brussels-Capital Region, but a contribution towards the full cycle is required at a cost of :
- 150€ - For people living in Brussels or whose company is located in Brussels.
- 300€ - For people living outside Brussels and whose company is located outside Brussels.
- If you do not wish to take part in the entire cycle, we are opening up 6 places at each workshop for which we ask a contribution of :
- 25€ for residents of Brussels
- 35€ for non-Brussels residents
- These workshops take place at ICHEC (Anjou) or EPHEC (Woluwe) between March and November 2024. The sessions take place in the evening (Tuesday, from 6.15pm to 9.45pm) or during the day (Saturday, from 9.30am to 4.30pm). Catering is provided at each session.
How does the training cycle work?
If you register for the whole of this year's cycle of workshops, you can also benefit from support from quality experts at a preferential rate. Your registration includes 3 hours of one-to-one coaching with an expert for €25/hour.
Beyond these 3 hours, if you need additional sessions, they will be entirely at your expense.
The 3 hours can be split between several themes/experts depending on the needs of the project and the realities of each individual.
The experts will include people who specialise in the topics covered in the cycle, i.e. valuation, accounting, governance, family charter, negotiation, legal and tax aspects and many others. You can also take part in this programme as part of the Families in Business Chair.
Contact: family@ichec.be - Corporate Family Chair - https://chairefamilles.ichec.be/la-maison-du-repreneuriat/
Unizo
For whom?
The support programme set up by UNIZO is aimed at entrepreneurs wanting to sell their very small enterprise (VSE).
How does the support work?
The support is in the form of customised advice and begins with an individual interview during which the expectations and needs of the seller are defined.
The follow-up takes place in three steps:
- preparation of the transfer: an expert guides you through the basic analysis of the marketing possibilities for your company.
- a valuation is then carried out using different tools. The valuation takes into account the annual accounts, tax returns and the prospects for the business in its sector.
- lastly, Unizo helps you to publish your ad free of charge on their transfer platform so that potential buyers can contact you directly.
Contact : guido.seghers@overnamemarkt.be - https://www.plateformedetransmission.be/fr/conseils-sur-mesure
Local Economy Office (LEO)
For whom?
Any buyer wanting general support.
How does the support work?
Transfer support is à la carte support. The LEO makes a diagnosis during an initial interview. Afterwards, individual meetings will be offered every three weeks (the time frame can be shorter if you are in a hurry - it often happens with transfers that the windows of opportunity are very short).
In practical terms, the LEO helps you to draw up a business and financial plan, check the required certificates and authorisations, the choice of legal form, and guides you towards forms of financing.
The LEO does not assist you in the following areas: drafting the transfer agreement, creating the business presentation file, inventory of the business, valuing the business.
The available support is generalist. The LEO has an economic role which is to consider with the entrepreneur the feasibility of the project and its financing.
Contact : info@gelbru.be – www.dansaert.com
Business transfer consultants
Using business transfer consultants/experts is advisable, particularly when you have an SME of a certain size, would like more specific support or want to benefit from the network of the consultants in question.
The portals below list experts for business transfers. Please note that this list is purely indicative and not exhaustive:
There are also premiums for the use of these experts (consultancy aid, company takeover, purchase of a business).
Who can help me ?
