How to avoid losing key staff when buying a business

Posted by James Price | JPAbusiness on 03-Feb-2021 02:00:00

There are some common 'people-related' risks associated with business purchases, particularly in small to middle-sized businesses that are substantially dependent on an owner or a few senior employees for their success.

Two things can happen if those personnel aren’t retained in the business in an active way:

  • the business’ relationships with customers and suppliers may deteriorate; and
  • the employees’ know-how and corporate knowledge will be lost.

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Topics: Buying a business, Business transfer, staff management, business advice, Business advisor, business management, James Price, JPAbusiness, Parramatta, Central West NSW, business transaction advisor, human resources

 
Disclaimer: The information contained in this blog is general in nature and should not be taken as personal, professional advice. Readers should make their own inquiries and obtain independent, professional advice before making any decisions, taking any action or relying on any information in this blog. 
 
 

 

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