Posts Tagged ‘Business Sale’
What are Employer obligations when selling or transferring a business? 3 Main Options for Business in Australia
NB Lawyers – lawyers for employers are assisting a number of clients with business sale transactions. One of the main considerations by many Employers in Australia who are looking to sell their business is the question around employee entitlements and legal obligations. There are 2 main situations in a sale. The first is the sale…
Read MoreRedundancy in a business sale – what Employers need to know
Redundancy in a transfer of business situation will usually be in circumstances where the “new” employer does not want to bring the employee onboard (for whatever reason) or the employee does accept a suitable alternate position. A recent case before the Fair Work Commission of Gravenall [2020] FWC 4499 (26 August 2020) (Gravenell Case) demonstrates…
Read More8 Hidden costs of buying a business
Buying a new business can be exciting and full of opportunity for a purchaser. The main expense is of course the purchase price, but there are also other ‘hidden’ immediate costs of the transaction. It is crucial to take note and budget for these costs before signing a contract. Transfer Duty Transfer Duty (also ‘stamp…
Read MoreVendor finance: buy and sell without the bank
There are situations in which a bank loan is not a possibility when purchasing a business, property or other asset. This may occur because the buyer is unable or unwilling to secure a bank loan for the requested purchase price. However, the seller may be eager to sell their asset and be willing to come…
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