Confidentiality when selling your business
The best way to relate to a situation is imagining you are there. If I were in a job, everything is going well, and then, rumor has it the company is on sale. The first thing it would come to my mind would be, what’s going to happen to my job? Should I start looking for a new one?
When selling a business the best is to do it discreetly for many reasons:
News that your business is for sale can generate negative reactions among your employees, customers, suppliers, creditors and bankers.
As an employee, I believe this would lower the morale and make others nervous affecting productivity and customer service. Your competitors can get predatory and spread the word. It opens the door for them to steal business from you.
You, as a business owner, want to protect your business at all costs. Whatever is the reason for you selling your business, it is imperative to be discreet. Hiring a business broker can be beneficial when it comes to selling your business while keeping a low profile. They can list your business for sale while at the same time protecting the identity of your company.
A business broker uses a document called a Blind Profile, a document describing the company without revealing its identity. In the case of a buyer showing up, he must sign a confidentiality agreement to have access to any sensitive information, protecting you and your business.
You as a business owner should focus on running your business even if it’s on sale. A business broker is an intermediator who will help you to run the process smoothly from beginning to end.
NewGate Capital Partners can help you sell your business. Contact us anytime at http://www.newgatecapitalpartners.com/business-brokerage/