52 - Before you sell your business

Selling a Business in Australia: Assets, Leases, Financial Disclosure, Employees and Contract Conditions Melissa Bush explains that selling a business is a complex legal transaction involving more than price, covering assets, goodwill, contracts, leases, employees, intellectual property and disclosure obligations. Using scenarios, she outlines what is actually sold (including stock and business name) and how lease assignments can derail a deal if landlord consent is refused or new terms are demanded. She warns that inaccurate financial information, even if unintentional, can expose sellers to misleading or deceptive conduct claims if buyers rely on it. She explains that employees do not automatically transfer, requiring sellers to address entitlements and buyers to document new terms to avoid staff uncertainty and value loss. Finally, she discusses conditions precedent like finance approval and how missed deadlines can trigger disputes over deposits, emphasising careful drafting and early professional advice. 00:00 Selling Is Complex 01:22 Show Format Disclaimer 02:30 What Youre Selling 03:59 Leases Can Derail 05:19 Financials Must Be Accurate 08:08 Employees And Entitlements 10:26 Contract Conditions Deposits 12:37 Prepare For A Smooth Sale 13:56 Final Takeaways Next Steps