Our guiding principle is that open and transparent communication with your staff is always a positive thing.
However, this is complicated by the fact selling a business is a sensitive issue and disclosing the fact it’s for sale can be detrimental to a business’ operations.
A pending sale can unsettle your team and, if it gets out in the market, it can cause difficulty with clients or suppliers.
In this video I share some strategies for sharing business sale plans with key staff:
Good advice essential
As business advisors in facilitating a sale process, we go to the nth degree in terms of confidentiality in the market. We realise that disclosing the fact a business is for sale can be detrimental to its operations.
But sometimes information does get out and, if it gets back to employees, it can be quite negative and unsettling.
Deciding when to tell staff you’re selling is definitely one of those situations where an experienced advisor can be a great support.
If you would like advice about any aspect of selling your business, contact the team at JPAbusiness on 02 6360 0360 (Orange) or 02 9893 1803 (Parramatta) for a confidential, obligation-free discussion.
James Price has over 30 years' experience in providing strategic, commercial and financial advice to Australian and international business clients. James' blogs provide business advice for aspiring and current small to mid-sized business owners, operators and managers.