Tips on selling and buying a business were on the menu at a breakfast seminar in Brighton.

The meeting was organised by Lloyds TSB Corporate, business advisers and accountants Mazars and solicitors DMH.

Specialists from the three organisations provided advice and guidance.

Adrian Wenn, relationship director at Lloyds TSB Corporate, said: "For most business owners, buying or selling a company will be a once-in-a-lifetime experience and they only have one chance to get it right."

Adrian Alexander, head of corporate finance at Mazars'

Brighton office, said there were few corporate buyers in the market place.

He said: "That means it is more important than ever to thoroughly prepare the business for sale if the maximum price is to be achieved.

"To attract quality buyers you must demonstrate earnings are maintainable, any short term problems have been resolved and the business will be sustainable after a change of ownership."

Potential vendors should allow plenty of time.

Selling a business did not happen overnight. The process could take a year or more.