Small enterprises and family businesses
Many small family businesses today are faced with the decision to keep the family business going or to sell the company. Owners of companies based in the Czech Republic in the early 1990s are now in retirement age and may have difficulty finding a successor in the family to take over the reins. One option is to find an investor to take over the company.
Environmental matters may not be always given a priority, in particular in smaller family businesses, (due to the nature and/or size of the operations), frequently these companies do not have an inhouse environmental specialist and rather rely on external environmental advisors to meet statutory obligations. On the contrary, investors place great emphasis on business environmental performance, and therefore environmental audits and, more recently also health and safety audits, are an integral part of a standard Due Diligence process.
If the environmental due diligence audit is prepared only by the buyer side, the seller may be surprised by the investor's conclusions and requirements and may not be able to respond properly and accurately. Therefore, it is an advantage for the seller to have his own independent environmental assessment (Vendor Due Diligence) and evaluation of the actual and potential risks associated with the property and its current and past operations, including quantification of any related liabilities. The timely conduct of the environmental audit before the transaction also gives the seller time to address possible deficiencies and to prepare properly for the buyer's audit.
In this context, ENACON offers to small and family businesses support in the environmental (and possibly health and safety) Due Diligence process, in particular:
Completion of their own Due diligence audit
Preparation of required document or obtaining missing documents
Assessment and evaluation of real environmental risks
Preparing the operation itself for a visit by the investor's representative and its auditors
Assistance in meetings and discussions with investors over environment topics.