#021 - Due Dilligence with Chris Jones


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Welcome to another episode of the How to Raise Money Podcast. In today’s episode, your hosts Ray interviews Angel Investor, entrepreneur, owner and executive director of 9 companies and wealth creator Chris Jones. Ray and Chris dive into the essential need for due diligence in business. The purpose of due diligence is to ensure if you are putting time or money into a company or looking to acquire a company that everything is out in the open and you are aware of all the information before making a decision or taking action. Listen to this episode of the How To Raise Money Podcast to find out more about due diligence and you too could save thousands, simply by doing your due diligence. Discover the 40+ points Ray and Chris discuss and the tips and tricks you can implement in your business right away. KEY TAKEAWAYS Warranty - a promise that something in furtherance of the contract is guaranteed by one of the contractors, especially the seller's promise that the thing being sold is as promised or represented. Indemnity - security or protection against a loss or other financial burden. security against or exemption from legal responsibility for one's actions. Due Diligence Checklist Target Company Buyer Seller Warranty Indemnity Completion & post acquisition matters Control the bank account Key employees Completion board minutes Share purchase agreement Other agreements Loan notes Loan register Taxation undertakings Stock transfer forms Disclosure letters Letters of undertaking Compromise agreements Power of attorney Capital allowances Unclaimed R&D tax credits BEST MOMENTS “The one thing you need to ensure you do is control the bank account.” “Be clinical with who needs to go and who needs to stay, find out who are the key employees and who will run the company for you. More often than not it will be the middle management who have the vision and drive to push the company forward.” Share purchase agreements are boring, although vitally important. You must read them three of four times as there may be hidden rules that could affect your voting rides. Look out for class A and class B shares.” “There is a surprising amount of things that happen in business during the day that can put against R&D tax credits.” VALUABLE RESOURCES https://www.angelsden.com/en-gb/events/ Chris Jones - Chris.jones@nbv-ltd.co.uk ABOUT THE HOST Ray McLennan is a keynote public speaker and former corporate solicitor who has many years of experience owning and operating a variety of businesses in the UK and Ireland. Ray is the Regional Manager for Scotland & Ireland for Angels Den, which has over 13,500 high net worth Angel investors that help to find funding for property and SME businesses. Ray also helped to create Property Angels Den (PAD) in Sept 2014, which matches High Net Worth Investors with property proposals of all sizes. PAD now meets regularly and has funded dozens of property projects all over the UK. CONTACT METHOD Ray@raisingangelfinance.co.uk Maria@raisingangelfinance.co.uk Howtoraisemoney.co.uk Send in a voice message: https://anchor.fm/HTRM/message

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