Informing Employees Your Small Business Is For Sale

If you have ever considered putting up your business in Santa Clara County CA for sale, you understand you will need to take certain steps to accomplish this. You know you will require a business broker is your small business for sale is to receive the attention it requires to fuel a sale. You also are cognizant of the need to prepare a complete valuation. You may even know about addressing any such issues as personal goodwill. Yet, in the rush to sell, you might have a tendency to neglect treating your employees respectfully and with tact.

The Importance of Employees

Getting your house in order for a sale, means making sure you talk to the employees about it. You need to be forthcoming and express clearly, what it means for their future. Your employees are one valuable asset of your company. While there is always one or two that are questionable in their dedication and contribution to your business, the majority are valuable assets. It is up to you to include them as part of your valuation. After all, without them, your company would not have achieved its current position.

Legal and Moral Obligations

As a business owner, you have both legal and moral obligations to your employees. The first item on your agenda is to look at the agreements you have between your business and your employees in Santa Clara County CA. What does it specifically say about their position when it comes to the sale of your business? If the contract contains such a provision, you will need to follow it exactly.

In general, the following is the usual approach taken by employers who are considering or have already put up their small business for sale.

 * When you are certain you are putting the business up for sale, talk to your employees. Do not wait until it is general knowledge before doing so
 * Make sure you have an agreement with the new owner and employer about the current employee situation. Clarify with him or her the number of employees he or she will offer employment to and specify the terms
 * Talk to them about potential options and any concerns

No matter what the strictures of the agreement and the looming sale of your business, be sure to keep the lines of communication open.

Small Business for Sale

No matter who you employee, it is your moral and legal obligation to inform them of your intent to sell your business. It is also your responsibility to know the specifics of any present and future employment agreements. These are your employees. They have helped to make your business in Santa Clara County CA a success. Treat them with respect. Always clearly and openly, communicate with them on matters resulting from your decision to put your small business for sale.