The answer to that question is categorically YES!

As a Merger and Acquisition Team, we add value to the process of buying or selling a business and a Risk Assessment is one of those key processes that many buyers and sellers overlook.

Imagine the scenario.  After a considerable length of time preparing a business for sale, the owner-manager feels ready to put his or her company on the market.  Everything has been treble checked, from the strength of the customer base and staff, the Intellectual Property, the Financials and a good second tier management team is in place. The company has strong IT Security Protection to defend against a cyber attack.  The business is under offer, due diligence has been successfully completed, then it happens.  The security systems are breached!  Everything has been compromised and the buyer withdraws! 

How could this have happened when the company had strong 'state of the art' IT Security protection in place?  Well, all it took was one employee who opened a rogue email attachment!

You or your client may have the most advanced cyber-security protection, however, it only takes one of your employees or fellow Board Members in the C-Suite to open the defensive barrier. 

Regardless of the sophistication of your Cybersecurity defence, ensuring your employees are fully engaged with how to protect both themselves and the Company, should be top of your list.

Now, I have no intention of causing a panic, but I would like to think that every business owner, following the NHS scenario, is now thinking seriously about their security and hopefully doing something about updating it.  A new on-line Risk Assessment Tool recently launched, which individuals and employers should take note of, can be found at www.dynarisk.com  We have worked closely with Andrew Martin, the CEO, and he is without question a brilliant Cyber Security expert.

So, whether you are looking to sell in the near future or indeed buy a business, make sure your advisor is on top of his or her game and asks that important question.  ‘Is the company secure and are your employees fully aware and engaged with being safe on-line?’

Contact me at june.finnigan@hoareworth.com