All posts by Del

business advertising

How to Advertise in 2020

Whether you’re looking for new staff, new clients, new customers or even a new owner – advertising is the game. The real question is, do you know how to play? Advertising used to consist of taking out an ad in the newspaper and sitting by the phone. How simple and easy that used to be. Nowadays, advertising has grown to become an intricate machine, where in-depth targeting is used to show your ad to the people who are most likely to respond to it. Sure, an ad in the paper was simple and easy, but with an ageing population, the youth of today are less likely to read the classifieds and more likely to click on an appealing ad when they are scrolling through their social media platforms. 

What are the top advertising options?

Social Media

‘Social media’ encompasses a range of platforms. From Facebook to Instagram and LinkedIn, this method of advertising comes with incredible targeting options. These channels allow you to focus on your target market; their location, interests, age, sex, and many other variables to have your ad seen by people who are more likely to positively respond. The downside? It can be a little complicated to navigate. Facebook ads are a fantastic business advertising tool when you understand how to use them, however Facebook may not be an appropriate platform to use depending on the demographic of the target market. If you don’t have a social media expert or marketing specialist in your team, our advice is to outsource this job to an expert. Trust us, there’s no point doing it poorly if spending a little more allows you to reap the results of a professional ad. 

Google ads

The phrase “Google it” is popular for a very good reason. It’s the search engine of search engines. If your business isn’t utilising Google advertising, it is likely (unless you have fantastic SEO – a topic we will save for another blog) it is not listed on the first page of Google when you search for your business type. Advertising with Google allows your business to show at the very top of the results page when people search for your keywords. Of course, if you are in a flooded industry in a CBD location, this means you’ll be paying a higher premium, but the return on investment can be huge when your business/products are placed right in front of searching customer’s eyes!

Printed publications

We used newspapers as an old-fashioned advertising example, but that doesn’t mean they are no longer relevant. Depending on the publication you choose, this form of advertising can be extremely beneficial. Things to consider here are target market and cost; make sure to advertise in publications that your target customer reads (usually the more “mature” age bracket) and weigh up the cost of your advertising endeavour. Print can be costly – but if the return on investment is good, then it can be worth every cent.

Tangible handouts

A time-consuming process, unless you decide to outsource this task – flyers, newsletters and business cards are also ways to advertise. An important consideration when creating a flyer or brochure is to think deeply about design and content. Too many words can put people off, a poor design can negatively represent your brand. If you don’t have design flair or a way with words, consider hiring a copywriter or graphic designer to lend a hand. Printing is generally cheaper in bulk, so we urge you to create something that represents your brand and can be used long-term, to get your money’s worth.

Word of mouth

Without a doubt, this form of advertising is the cheapest and most effective of them all. A slow burn, it may not drive sales as quickly as other methods, however, if you work hard to satisfy your customers and ensure their happiness, it is highly likely they will refer you to family and friends, discuss you in public settings and spread the love with Google and Facebook reviews. 

Radio & Television

Would your target customer commute to work? What radio stations do they listen to? What time would they generally have free to switch on the tele? These are all questions to ask yourself when considering radio and TV advertising. Choose stations that your target market is attracted to, with time slots that work with their schedules. Radio and television advertising can be costly options, however, if done correctly, can be extremely effective. It’s important to note that if you embark down this path, that quality needs to be a priority. A poor radio or T.V ad is a guaranteed waste of money. Make sure you create something memorable for viewers, whether it’s catchy, quirky, funny or sparks emotion within them. This is key to creating ads that are remembered for months to come.

Advertising is a complex machine, which is why you should consider all of your options and place yourself in the customer’s shoes first. What do they want to see, hear or read? 

To discuss your business in detail, contact Core Business Brokers today, on (02) 9413 2977, or email Roy on [email protected]. If we can’t assist with your business advertising, we will guide you in the right direction.

A team of professionals achieving a goal in a healthy workplace environment

CREATING A HEALTHY CULTURE IN THE WORKPLACE

Whether you’re a new owner, manager, or have had the same business and team in place for decades, there’s nothing more productive than a positive workplace. On average, each Australian spends 40 hours per week at work (give or take, depending on their role and industry). This means that each of us spends approximately 16 years of their life at work (and we mean 16 straight years of 24/7 work! Wow!) So whether you have changed jobs or stuck with the same business for your entire career, it’s safe to say that creating a workplace that your staff enjoy coming to each day is a pretty high priority when it comes to staff productivity, retention and happiness. If it isn’t, it should be! Let us break it down…

There are certain ways you can improve workplace culture, and some of these don’t cost a cent!

  1. Activities: If there’s one sure-fire way to boost team morale, it’s allowing your team to get to know each other outside the confines of their professional roles. Of course, keeping relationships professional is necessary, but establishing a friendly working relationship is key to efficiency, productivity, and team happiness in the workplace. Why not treat your team to a big Christmas shindig? Or organise a work barbecue in Summer? Aim to host a team event once a quarter and watch friendships grow and workplace teams thrive.

  2. Teamwork: Speaking of teams, embrace teamwork! Highlight the strengths of team members in meetings and delegate specific roles within the teams so your staff enjoy working alongside each other with a common goal in mind. If your workplace is a more autonomous space, why not spice things up with a little Friday team challenge once a month? Get everyone working together in a light-hearted and fun way, problem-solving for a solution, and they’ll forge team bonds for future projects. Why not introduce a prize! Friday winners get Monday coffees!?

  3. Inspiration: Being a positive person in the workplace promotes positivity within your team. Be a YES person, treat people well behind their backs and lead by example. The biggest inspiration for your team should be you.

  4. Atmosphere: Introduce some calming or positive background music to the office or workplace and celebrate your team. Create a business that you would be happy working in every single day. If something feels stale, spice it up! Move the furniture around, add some artwork or special touches to make the space feel more welcoming.

  5. Praise: Constructive criticism always has its place, and it’s important not to praise staff members when it isn’t called for. But when it is? Make sure to recognise team efforts and celebrate team successes. There is nothing more morale-boosting and motivating  than feeling appreciated, recognised and needed. It’s a known fact that a cash bonus is a short-term motivator of staff whereas recognition and praise is a long-term motivator. Each can be effective tools to celebrate hard work and efforts within your team.

  6. Conflict: We’d like to believe that a conflict-free workplace is achievable, and sometimes with a little luck, it can be. Other times, stress, workload and varied personality types clash within the team and conflict can arise. It’s important to address these conflicts both calmly and professionally. Extend mediation to the parties involved and allow them to address their concerns in a private area, where they can feel heard and a solution can be created.

We hope we’ve given you some food for thought when it comes to creating a healthy culture in the workplace. If you’d like to discuss your business sale journey, contact Core Business Brokers today, on (02) 9413 2977, or email Roy on [email protected]. Let our friendly and experienced team of Business Brokers guide you in the right direction.

CREATING A BUSINESS DESTINED FOR SUCCESS

What came first? The chicken? Or the egg? It’s a little that way when it comes to business too. Do you start with a business idea? Or do you look at the market and see what would work well? For many businesses, it’s the first option. It may be a dream to own a restaurant or a dance studio, so that is the venture they embark on. For many people, this works just fine, as their passion and drive make them successful business owners and other factors such as skill, positioning, competition and luck may contribute in a positive manner.

However, what if you flipped the coin and approached it from the alternate angle? What if you wanted your own business, and instead of going with your heart, went with your head?

This is where certain business owners begin to shine. They begin by assessing the market. They scope the area they would like to place their business and they ask themselves, “what do the people in this area need? What are they lacking?”. Here are some key questions to ask yourself when in the initial planning stages of creating a business that may attribute to future success:

  1. Who lives in the area? How old are they? Are they mostly single people or families? What is the average income?
    This will help to determine product line, pricing options and services that you offer. As you may offer families a bulk discount on your product or service as opposed to affluent single professionals.
  2. What businesses already exist in the area? If you are looking at an industry, how flooded is this industry already? Or are there gaps in the market that you could tap into? 
    You’d like to open a café but there are already 2 on every corner, however, after 2 pm, the neighbourhood falls silent and a little tapas bar could prove very popular!
  3. What do people need in this area?
    Similar to point #2, where you’ve assessed what businesses already exist, have a good think about what opportunities don’t yet exist, that would make residents lives easier. 
    Maybe the local grocery store is a 20-minute drive away and during peak hour is a nightmare to find a parking spot. So, why not open a small supermarket and deli on a residential corner? It may be a little bit more expensive than the larger chains, but it is convenient. People will make sacrifices for convenience.
  4. Is this the right area for my business? If you have your sights set on a particular industry or business style, then find an area for your business that has all of the above points that already suit your business model. 
    For example, you may want to create a luxury hair salon but you are looking at a low-income area that is predominately families. But 15 minutes up the road in a neighbouring suburb you find an area filled with single professionals. Moving your business here could make all the difference. 

If you’d like to discuss your options and see what businesses we have available, contact Core Business Brokers today, on (02) 9413 2977, or email Roy on [email protected]. Buying a business is a journey best undertaken with careful and considerate planning. Lucky for you, it’s what we do best!

staff meeting to discuss business roles

CAN YOUR BUSINESS WORK WITHOUT YOU?

As part of your succession planning, ensuring your business can operate and succeed without you involved in the day-to-day activity is essential. This allows for better work/life balance whilst also proving to potential buyers that the business can easily be transferred from owner to owner, without disrupting operations and profitability thereby ensuring that the goodwill being sold is not totally dependent on the owner only.

So… How do you create a business that works without you? It involves specific measures put in place to ensure you are no longer required at a fulltime capacity. Of course, it’s worth noting that unless you employ a manager of sorts to fulfil your duties, there will always be work to be done on your behalf. However, the goal is to reduce the amount that your business relies on you and only you. Making it more attractive to potential buyers.

  • Switch from manual to automated methods

Whether it is email and text communications with your customers, financial tracking, or measuring KPI’s; Find ways to implement automated systems to free up your time, improve efficiency and speed up your processes.

  • Employ a skilled team with specific responsibilities

Evaluate your current team and their specific job functions. Tweak their job roles as necessary to ensure that all areas of the business are being serviced both efficiently and clearly. Allowing your staff to clearly understand their role is key. A way to plan for potential disruption is to ensure that all jobs can be done by at least one other staff member. This will allow operations to continue if one team member falls ill or goes on leave and thereby reduce any perceived risks.

  • Upskill your staff

As a business owner, it is sometimes difficult to let go of certain tasks and responsibilities if you feel you do a better job than your staff. The answer to this is to upskill your staff so they are well equipped with the knowledge and skills to perform the task in question sufficiently. This will also give you peace of mind, knowing that tasks are being handled professionally and meticulously. A successful manager is one who surrounds him/herself with people who are smarter than them in specific functions. Such as IT, marketing, sales and financials.

  • Outsourcing

Related to the point above, if there is a task that cannot be performed by your team, due to time constraints or a gap in knowledge, outsourcing may be the answer. Whether it’s bookkeeping, social media management, marketing or another area of expertise, find someone who can dedicate time to this task to ensure it is performed well, leaving your staff to focus on their roles in the process.

If you’d like to discuss your options and chat through your business succession plan, contact Core Business Brokers today, on (02) 9413 2977, or email Roy on [email protected]. Selling your business is a journey best undertaken with careful and considerate planning. Let us assist you today.

Things You Need To Know About Today’s Market

If you were thinking about selling your business earlier this year, you may have found yourself second-guessing your decision in the past few months. Covid-19 has disrupted our world; our share market, economy and every Australian small business has felt the pinch in some way, shape or form.

Being cautious in times of large-scale change and disruption is both understandable and advised, as making big decisions when the future is unknown can be a risky approach. However, as restrictions begin to ease and life begins to return to a version of normality in each Australian state, businesses owners exploring their sale path are now questioning whether this is the right time to do so.

Here at Core Business Brokers, we have found that most sellers put their business sale on hold during the initial disruptions of Covid-19. This was a decision that we supported until we could assess the market and gain further information about the Government’s plans for Australia during this pandemic. Most buyers that were expressing interest in our business listings also pressed pause, extensions were made, and agreements were formed to allow everyone some breathing space and time to absorb and adapt to the changes around them.

We are happy to report that here at Core Business Brokers, our business listings have now resumed. Most Australian businesses are operating at some capacity, whether that is altered services or changes in patron capacity to abide by Government restrictions. Negotiations have resumed and the reasons for buying/selling have returned to the table after a quick hiatus. Buyers need to know that the business going forward is still viable and that future profits can be demonstrated in some way to feel comfortable. There are a few ways that this can be achieved to provide both seller and buyer with the comfort to proceed with the sale.

It is important when embarking on your business purchase journey as a buyer, to review past financials to paint a clear picture of the business’ profitability pre-covid-19 and to understand what ‘normal’ operations look like in the business day-to-day. With this in mind, many of our Sellers have noted minimal negative impact and this has been discussed with interested buyers. We are working with our sellers as to how they will be able to provide a due diligence to confirm that a buyer can rely on the historical financials for the future.

For some businesses, however, Covid-19 has disrupted operations, and this has dampened their outlook when it comes to the sale of their business. Our suggestion for those businesses who have seen a downturn in profitability, a loss in staff numbers, potential closure or other negative impacts is to be transparent with prospective buyers. Instead of focusing on the negative, create a plan and present this to the buyer with steps to implement to return the business to its pre-Covid state. Discuss what you would do if you were to remain the business owner. This will calm the nerves of the buyer and make them feel supported in the process. Again there are a few processes that can be included in a sale contract to achieve this.

 It’s worthwhile to note that the Federal Government’s JobKeeper package has been a success in keeping many businesses afloat throughout this time, allowing them to retain staff despite a short-term decrease in revenue. With JobKeeper allowances in place, this can allow a business sale to take place successfully and efficiently during this time – allowing staff to retain their jobs and the transition to be smooth, as the JobKeeper legislation states that eligible employees will continue to receive this supplement, even if the ownership of the business changes (provided the new business owner continues to operate the same business) 

If you’d like to discuss your options and chat through your business sale journey, contact Core Business Brokers today, on (02) 9413 2977, or email Roy on [email protected]. We value honesty and experience and will discuss your journey openly, setting realistic expectations and chatting through all options. You can trust Core Business Brokers to set your mind at ease and your business down the right path.

Retaining Staff During a Business Sale

Losing key employees during the business sale process could both damage the business before the successful sale is finalised, or potentially stop the business sale from being completed. There are a few main reasons as to why staff leave a business when they hear it is for sale. These include:

  1. Job security – They fear that their job is no longer secure and that they will need to secure another as soon as possible to continue earnings and maintain stability
  2. Loyalty – They have a loyal relationship to the existing owner of the business and do not want to work for another employer
  3. Change – They’ve been wanting a change for some time, and figure this is the perfect catalyst

With the above points in mind, there are measures a seller can put in place to safeguard themselves and the buyer against reasons 1 and 2 above. Let us explain…

  1. Transparency – Staff will very quickly “sniff” out that the business is for sale. To prevent your staff fearing that their job is no longer secure, engage with them early on to let them know of your intentions and that they have nothing to worry about. Any buyer would always need the staff to remain and indeed staff retention may well be an important condition of the sale proceeding. Being transparent about the business sale and letting your team know before hearing about it from a third party is always a good idea, and the staff will respect you for that. Let your employees know they are appreciated and that their jobs are not at risk. This will alleviate any concerns and make them feel both valued and included.
  2. Contractual agreements and/or retention bonuses – Create reasons for your staff to continue their good work throughout the business sale process and into the future, by giving them an incentive to do so. A retention bonus gives them a percentage upon the successful business sale with the remainder to be given at a time in the future. E.g. 30% of their retention bonus is given upon settlement, with the remaining 70% given 12 months later. This incentivises their loyalty to the business and eases any doubts in the buyer’s mind that the staff may leave them high and dry.

It’s always wise to place yourself in the buyer’s shoes when analysing your business in preparation for sale. If something appears to be a risk or a weakness, address that issue immediately so that it doesn’t affect the buyer come sale time. A buyer will want the business to transition smoothly from the previous owner to themselves, with key staff remaining in place with as little disruption as possible. If there is a risk of disruption, this may be reflected in the sale price.

This is the business you built, ran and operated for years. Aim to work hand in hand with the buyer to ensure your business is successful for many years to come.

If you’d like to discuss your options and chat through your business sale journey, contact Core Business Brokers today, on (02) 9413 2977, or email Roy on [email protected]. We’ve got countless years of experience in Business Broking and will be more than happy to get you on the right foot on your business sale journey.

HOW TO CREATE AN ECO-FRIENDLY WORKPLACE

As our world continues to strive towards a more environmentally friendly future, reducing your carbon footprint and living a more sustainable lifestyle becomes the goal for many. But how do we make a big environmental change? Can little old me make THAT much of a difference? This is where businesses can lead the way. If Australian businesses made eco-friendly changes to their workplace, think of the positive change they could facilitate! Better yet, by doing so, they encourage each one of their employees to continue those eco-friendly practices in their own day-to-day lives in their homes. It’s a win-win!

So, what are the easiest ways for Australian businesses to create an eco-friendly workplace?

  1. Replace printer and office paper with recycled paper. It may be slightly more expensive, but think of how many boxes of paper your business goes through per week… According to the popular site, ‘Quora’ it takes approximately half a tree to create 10 reams of non-recycled paper. Now think of how many trees your business uses per year. Better yet… go paperless if you can!
  2. Consider the use of electricity in your office. Are computers and lights left on overnight? Could changes be made to still consider safety and security, yet use less power? Suggestions are shutting down computers or using ‘sleep mode’ and using timers for your lights so they don’t stay on for longer periods than necessary in places like communal kitchens and bathrooms.
  3. Implement recycling measures. Does your workplace have compost or recycling bins in place? Cafes can offer used coffee grounds to garden centres for use on their plants, offices can recycle used paper and restaurants can implement a compost system for their food scraps. There’s always an opportunity to reduce, reuse or recycle.
  4. Use environmentally friendly products. When it comes to cleaning, we always want to do a good job around the workplace, especially if we are dealing with food and the public. However, there are many alternatives to the harsh chemicals our parents used to use on hands and surfaces, with some companies even using recycled bottles and jars! Don’t believe us? Check out Zero Co. An Aussie start-up, they are creating eco-friendly cleaning products that are housed in containers built from ocean waste plastic. What a fantastic idea!

The above suggestions are just the beginning. The best thing you can do to create an eco-friendly workplace is to educate your staff on how best to do so. Create a poster and display it in a common area. Allow your staff to suggest ways to make the workplace eco-friendlier and try out their ideas as a team. Big changes are a result of a lot of smaller changes lined up in a row, after all!

When it comes to business, Core Business Brokers are the leaders in their field. Their care and consideration for your business are second-to-none, and with years of experience in the industry – they are the ones to call with your questions and queries. Contact Core Business Brokers today, on (02) 9413 2977, or email Roy on [email protected]. We’re always to schedule an appointment and to chat through your options.

How to Adapt Your Business During Covid-19

2020 has no doubt been the most challenging year for many of us, especially for business owners. With few exceptions, most industries have been greatly affected by the Covid-19 crisis, with many facing temporary or permanent closures as a result. The lucky ones have been forced to adapt to a new way of operating, due to our isolated living arrangements, Government regulations and the general health and wellbeing of the public. 

Depending on your business location, Australian regulations differ somewhat state to state. Better yet, to keep up with the current situation, they are ever-changing. For those trying to brainstorm ways to keep their business afloat and potentially even thriving during this time, here are some ideas when adapting to large-scale changes such as the effects of the Coronavirus. 

1.Get online: If your business doesn’t have an up-to-date, fully functioning website, that should be first on the agenda. Physical visits to your brick and mortar business will be minimal if any – so creating and maintaining an online presence is necessary. Implement e-commerce and allow customers to purchase products and services online, via phone and email. This may mean online coffee orders for cafes, online workout videos for purchase/hire for exercise studios, a booking system for a retailer to allow customers to book a time slot to come in and shop while implementing social distancing measures. Whatever ‘online’ means to your business, sit down and think about this from the customer’s perspective. Make their life easier, simpler and more efficient during this time.

2. Advertise: Not only are many of us working from home, many of us are spending much more time online than ever before. This is the perfect time to boost your digital advertising, increase posting on your social media channels and engage with your online audience. In a sea of buzzing social media feeds, make sure you are posting content that is not only promoting your brand, but is also engaging to the viewer. Facebook, Instagram and Google ads are also a great way to show your desired audience your brand, promotions and products/services – if you need help with this, ask us and we’ll point you in the right direction.

3. Delivery: If you offer tangible products, offer discounted or free delivery! Unfortunately, Australia Post, as well as other postal services, have been inundated with increased shipping levels recently, so if you can deliver personally with the help of your staff – or even a local who needs some extra work, this would make you stand out in your local community.

4. Connect your team: With no office chat and lunchtime socialising taking place during isolation, find a way to connect your team and boost morale. Zoom meetings are free (under 45 minutes) and a great way to bring everyone together on a Friday afternoon to discuss the week and unwind together with a cup of tea or perhaps a glass of wine. Want to take things to the next level? Order uber eats for your staff and treat them to a little office dinner or lunch on a Friday – to show them they are valued and that you appreciate the extra work they are putting in during this unprecedented situation. 

5. Build local relationships: If you can connect with other local businesses and help each other, it will be helpful with business and expand your customer network. Host competitions, put together raffle prizes with like-minded businesses and boost each other up in good spirits. People coming together during a crisis is one of the silver linings.  

6. Do good in the community: Why not offer a free or discounted product or service for front line professionals, essential workers and first responders? If one thing has been clear throughout Covid-19, it has been how important these people are. By helping others and establishing yourself as a positive influence in the community, you will be adding priceless goodwill to your brand as well as gaining a loyal customer base.

7. Pricing changes: Think about offering discounts for long term subscriptions, gift vouchers for future use at a discounted rate, a buy 10 get 1 free deal… The list goes on. If times are tough financially, find a way to offer your product or service at a discount to benefit both the customer and yourself in order for you to stay afloat and be ready to return to business as usual once all this blows over!

8. Think to the future: 2021 will be a big year if this all fades into our rear-view mirror. Events will be rescheduled, people will want to plan, travel, buy, sell, and get back to their normal lives as soon as possible. What does this mean for your business? Will you have enough product? Staff? Equipment? Prepare yourself for the future and plan accordingly. It’ll be here before you know it.

9. Maintain accurate financial records: Especially during this time – this will assist you when it comes time to sell your business because an experienced business broker will be able to adjust your 2020 financials to reflect the unusual and one-off financial impact to the business, so that it does not affect the valuation in the future.

If you’d like to discuss your options and chat through your business operations. Contact Core Business Brokers today, on (02) 9413 2977, or email Roy on [email protected]. Let’s do our best to keep your business alive and well during this difficult time, so you have a business to sell when the time is right.

Coronavirus – Don’t waste this downtime

To our valued customers, In light of recent announcements, we have closed our physical office doors temporarily to help protect the health and safety of our staff, customers and the broader community. We thank you for your ongoing support and want you to know that we are thinking of you in this difficult time.

While we may be physically shut for the time being, we are still available for our valued customers online. Stay up-to-date with us on social media, or sign up as a subscriber to be the first to know when we list a new business opportunity.

For those of you who are considering selling your business in the future, we are available for consultations during this time to assess your business and to provide you with advice of the best way to prepare the business for sale when the time is right.

We understand that any Buyer will be concerned how this pandemic has affected your business and by implication, the value, but we have various strategies which we may be able to apply to your business financials which will result in a “normalisation” of the results and thus hopefully still provide a good outcome for you in a sale.

Feel free to call us or email us for an initial chat and to utilise this down time productively to optimally prepare your business for sale. In the time being, we hope you stay safe and wish you the best during this time of uncertainty. The Core team. CONTACT: [email protected] or call us on 94132977

The Importance of a Non-disclosure Agreement

A non-disclosure agreement otherwise known as a confidentiality disclosure agreement or NDA/CDA, is a legally binding document that safeguards business owners during the sale of their business. When selling a business, part of a potential buyer’s due diligence is to investigate your business from a to z; examining profitability, financial statements, staff rosters and often sensitive information that you don’t want made available to the public. Importantly, you do not want that information to be used in future competition against the business.  So, what’s stopping a prospective buyer from reviewing your information and telling their friends? A non-disclosure agreement.

What is a non-disclosure agreement?

An NDA prohibits the signed parties (interested buyers) from disclosing any information about your business to external parties and which is not readily available to the public. It isn’t necessarily mandatory, especially for businesses that are very transparent and not concerned about information becoming available to the public (e.g. some public companies). However, if the buyer is potentially viewing proprietary or confidential information about your business, it is highly advisable that a non-disclosure agreement be signed.

When is an NDA used?

NDA’s can be used in various industries, where people want to keep confidential information solely between the parties involved. Whether that’s in business transactions or during acquisition or dismissal of employees, NDA’s can be incredibly beneficial to the person of whom the confidential information belongs to at that point in time, as it safeguards that information from becoming common knowledge. Think of NDA’s as a more legal version of a promise. The person signing the NDA is ultimately promising to keep their lips sealed about the topic in question, which in this case – is your business information.

What do NDA’s typically include?

Non-disclosure agreements typically include legal clauses that state that information made available between the parties in question (business owner and potential buyer) must remain confidential. Generally, any information obtained by the buyer about the business from any other source is not covered within the NDA, as it was not part of the confidential knowledge transaction outlined within the NDA.

Where do I obtain an NDA?

Understanding NDA’s are key to using them efficiently and correctly. At Core Business Brokers, we have years of experience dealing with non-disclosure agreements between business sellers and prospective buyers. If you are looking to sell your business, chat to us today. We will go through the process with you and explain all key areas of interest, allowing you to feel confident in your business sale endeavours.

Contact Core Business Brokers today, on (02) 9413 2977, or email Roy on [email protected]. We’re always to schedule an appointment and to chat through your options.