It only seems like 5 minutes ago that I was wishing people a Merry Christmas and a Happy New Year but now, as we get near to Spring 2022 & things are looking better than 12 months ago, you may be thinking about expansion, new premises or new business.
You will have looked at the finances & pored over the balance sheets, but have you thought about Due Diligence in Health, Safety & Environment.
Without a Due Diligence Audit prior to signing on the dotted line you could leave yourself open to a bill of many £thousands, which the vendor may not be keen for you to discover.
Consider the costs of fire systems, electrical inspection and rewiring, legionella, asbestos, not forgetting the impact of contravening environmental regulations.
I worked for a company that found that the company they were looking to buy had been discharging foul water into an area of Special Scientific Interest.
Another company found that there were underground diesel storage tanks on land that they were intending to buy.
Legally compliant drainage systems for foul & clean water with interceptors are very expensive.
If environmental permits may be required, these take time and effort, which need accounting for.
Where a company isn’t legally compliant in their health, safety & environmental management, you need complete clarity about the impact on you, prior to the signature on the document & handshakes.
Don’t trust in better nature
Trust a Due Diligence Audit done by an expert in Due Diligence Audits, & don’t leave it until it’s too late. Then you can be completely aware of your responsibilities and the costs involved.