Due Diligence Checklist Before Buying a Business in NZ在新西兰购买企业前的尽职调查清单

Due Diligence Checklist Before Buying a Business in NZ在新西兰购买企业前的尽职调查清单

Buying an existing business can be a faster path to revenue than starting from scratch, but it carries risks that thorough due diligence can help identify. The following checklist covers the key areas a prospective buyer should investigate before committing to a purchase.

Financial due diligence:

- Request 12-24 months of management accounts and bank statements. Cross-check reported revenue against bank deposits and GST returns.

- Review the aged debtors and creditors reports. Are customers paying on time? Are there any disputed invoices or overdue supplier accounts?

- Ask for the most recent stocktake report. Compare stock-on-hand with the balance sheet value and confirm whether slow-moving or obsolete stock has been written down.

- Obtain at least three years of annual financial statements (profit and loss, balance sheet, cashflow statement) and review year-on-year trends.

- If the financial statements have been audited or reviewed by a chartered accountant, review the management letter for any flagged concerns.

Legal and entity due diligence:

- Confirm the business's legal structure (sole trader, partnership, company, trust) and verify that all required registrations are current: NZBN, IRD number, GST registration, Companies Office records.

- Review all material contracts: supplier agreements, customer contracts, franchise agreements, distributor arrangements, and key employee employment agreements. Note any change-of-control clauses that could allow a counterparty to terminate upon sale.

- Check for any existing or threatened legal disputes, including employment disputes, customer complaints, or regulatory matters.

- Review the lease agreement for the business premises. Key items: remaining term, renewal options, rent review mechanism, and whether the lease is assignable without the landlord's consent.

- Confirm intellectual property ownership. Are trademarks, brand names, domain names, and software licences registered in the business's name (not the vendor's personal name)?

Operational due diligence:

- Identify key staff and assess the risk of departure after the sale. If the business relies heavily on one or two individuals, consider whether employment agreements include restraint-of-trade or retention provisions.

- Review the customer concentration. If the top three customers account for more than 40% of revenue, investigate the nature and duration of those relationships. Are there written contracts or informal arrangements?

- Assess the supplier base. Are there single-source dependencies for critical inputs or services?

- Evaluate the condition of plant, equipment, vehicles, and IT systems. A chattel valuation may be warranted for larger acquisitions.

- Confirm all necessary licences, permits, and regulatory approvals are current and transferable: for example, liquor licences, food safety registrations, health and safety certifications, or industry-specific accreditations.

Tax and compliance due diligence:

- Request IRD summaries confirming that GST, PAYE, KiwiSaver, and income tax obligations are up to date. Undisclosed tax liabilities can become the buyer's responsibility in some structures.

- Check whether the business has any outstanding fines, penalties, or compliance notices from local councils, Worksafe, or other regulatory bodies.

- If the business imports or exports goods, verify that customs and biosecurity records are clean.

Engaging professional advisors:

- A chartered accountant should review the financial due diligence findings and tax position.

- A lawyer experienced in business sales should review legal documents, advise on the purchase agreement structure, and handle the transfer of registrations and licences.

购买现有企业可能比从零开始更快获得收入，但它也伴随着风险，而彻底的尽职调查可以帮助识别这些风险。以下清单涵盖了潜在买方在承诺购买前应调查的关键领域。

财务尽职调查：

- 索取12-24个月的管理账目和银行流水。将申报收入与银行存款和GST申报进行交叉核对。

- 审查账龄应收和应付报告。客户是否按时付款？是否有争议发票或逾期供应商账户？

- 索取最新的库存盘点报告。将实际库存与资产负债表价值进行比较，确认滞销或过时库存是否已减记。

- 获取至少三年的年度财务报表（损益表、资产负债表、现金流量表），并审查同比趋势。

- 如果财务报表已经过特许会计师审计或审阅，请查看管理函件中是否有任何标记的问题。

法律与实体尽职调查：

- 确认企业的法律结构（个体户、合伙、公司、信托），并核实所有必要注册信息是最新的: NZBN、IRD号码、GST注册、公司办公室记录。

- 审查所有重大合同：供应商协议、客户合同、加盟协议、分销商安排和关键员工雇佣协议。注意任何控制权变更条款，这些条款可能允许对方在出售时终止合同。

- 检查任何现有或威胁性的法律纠纷，包括劳资纠纷、客户投诉或监管事务。

- 审查经营场所的租赁协议。关键事项：剩余租期、续约选择权、租金审查机制，以及租约是否可在未经房东同意的情况下转让。

- 确认知识产权所有权。商标、品牌名称、域名和软件许可证是否以企业名义（而非卖方个人名义）注册？

运营尽职调查：

- 识别关键员工，评估卖方后离职的风险。如果企业严重依赖一两个人，要考虑雇佣协议是否包含竞业限制或留任条款。

- 审查客户集中度。如果前三名客户占收入的40%以上，调查这些关系的性质和持续时间。是否有书面合同或非正式安排？

- 评估供应商基础。关键投入品或服务是否存在单一来源依赖？

- 评估厂房、设备、车辆和IT系统的状况。较大规模的收购可能需要进行动产估值。

- 确认所有必要的许可证、许可和监管审批是最新的且可转让: 例如酒类许可证、食品安全注册、健康与安全认证或行业特定资质。

税务与合规尽职调查：

- 索取IRD摘要，确认GST、PAYE、KiwiSaver和所得税义务已结清。在某些结构中，未披露的税务责任可能由买方承担。

- 检查企业是否有来自地方议会、WorkSafe或其他监管机构的未缴罚款、罚金或合规通知。

聘请专业顾问：

- 特许会计师应审阅财务尽职调查结果和税务状况。

- 有企业出售经验的法律应审阅法律文件，就购买协议结构提供建议，并处理注册和许可证的转移。

Points to keep in mind需要留意的事项

• Read the details alongside your own figures, timing, and documents.请结合自己的数字、时间安排和材料阅读这些内容。
• Use this article to prepare questions. Current lender criteria and personal circumstances still need to be checked.把文章当作准备问题的起点，具体贷款机构政策和个人情况仍需进一步确认。

Questions people often ask常见问题