Guide. You may also see employee notice examples & samples. Why was it decided to go out of business? Kindly confirm within 30 days of receiving this letter that my contract is cancelled. The closing business letter to employees is used to communicate the difficult decision of the closing of a business to the employees while stating the reason for the same. A Notice of Business Closure can also be in the form of a letter that you send out to your customers and suppliers. Below, you'll find a list of business letter examples for a variety of employment and business-related correspondence, as well as tips for how to write an appropriate and effective business letter. Selling Your Business to Employees. Employees should also understand that it can take a long time to sell a business and not to expect daily, weekly, or even monthly updates. They'll go home, talk to their spouse and worry all weekend. The Reed Group is well known for its successful and innovative publishing companies throughout North America. Such a notice that furnishes the exact time will help the employees to make the alternate arrangements. But for your employees, the picture is quite different. Date. It is also important to wait on telling your employees until the business has closed because it is possible that your business may take longer than you expected to sell, or may not sell at all. It's natural for employees to panic slightly at the news; they might think the worst and that their jobs are likely to go up in smoke. . As is the case with all letters, the style and wording you use in a letter depends on the specific circumstances. It’s a good idea first to list all the cate… Every sale has its own unique challenges and opportunities. Announce a business sale to essential employees, such as experienced and talented senior managers, during a private meeting early in the process. However, employers have to give every new employee a copy of the Fair Work Information Statement before, or as soon as possible after, they start their new job. If your business has a Liquor License, you should have this employee meeting the day before you post the ABC public notice poster. To tell or not to tell. Use these samples as a starting point when you have to write your own letter. Company Name or Letterhead Address City, State Zip. When employees transfer with the business, you need to give all relevant employee information to the new owner. When it comes to revealing that your business is on the block, these tips for communicating the deal to employees and valued customers will help smooth the transition. The ones who stay become less productive and the company's earnings begin to tank. If not, tell them that although the new owner will make his own staff decisions, successful performance during the sale period will be an incentive for the new owner to retain current employees. There may be more people affected than you think. When and how do I tell my Employees that I am selling my business? Announcing the news of a business closure to your staff, however, doesn’t have to be as painful as you might imagine. Your service has been excellent, and my beautiful lawn helped my house have curb appeal, and sell faster. Samples of Our Legal Notice Templates. An auto repair shop will want all cars collected by their owners and a retail shop will want to have time to sell their entire remaining inventory. Instead, tell them you will inform them when you have reached a deal with a buyer and encourage them to ignore many of the rumors that will likely circulate in the interim. All rights reserved. The closing business letter to employees is used to communicate the difficult decision of the closing of a business to the employees while stating the reason for the same. Video: One of the first things owners worry about after deciding to sell their business is when (and how) to tell employees. Selling a Business Selling Your Business: How To Tell Your Employees You've decided to cash out. The employees of the business support the sale ... Tom McKaskill also writes a regular column for SmartCompany.com.au on buying and selling businesses. To put it straightforwardly, it is going to be owned by someone else/body henceforth. A Change of Ownership Announcement Letter is a merely a formal announcement to all the faithful and devoted customers/employees that the owners of the company are going to waive the ownership to some other person/body. Once you’ve made the painful decision to close your business, it’s time to let everyone know, especially your employees. Ten Reasons Why Business Owners Sell Their Companies. Also, in the days and weeks following the initial introduction, the new owner should meet with employees individually or in groups so employees can express their concerns and get to know their new boss on a more personal level. In Canada, with few exceptions, an employer must give an employee notice or payment in lieu of notice if the employer wishes to terminate the employment relationship, without cause. You must also finalise your business’ tax affairs. When businesses change owners, a transferring employee can either: if they were covered by an enterprise award, enterprise agreement or other registered agreement , remain covered by the same instrument as they were before transferring (if covered by an agreement, this will continue to apply until the agreement is terminated or is replaced) or Any suggestions regarding what to tell employees when selling a business? Instead, tell them you will inform them when you have reached a deal with a buyer and encourage them to ignore many of the rumors that will likely circulate in the interim. In Canada, with few exceptions, an employer must give an employee notice or payment in lieu of notice if the employer wishes to terminate the employment relationship, without cause. Do you know anyone like that? Other legal notice templates available in this site are as follows. Please share any advice you have on selling a business. Gaebler Ventures. First, employees typically don't have the capital to complete the purchase, even if they know the inner workings of the company and could do a good job running the business. Hold a morning tea to celebrate and thank them for their time in the business. Download. Find out about employee rights when being made redundant. Like it or not, you can't hide a pending sale from your management team or other key employees. Announce a bad weather or civil emergency policy Announce a budget surplus Announce a business anniversary Announce a change in policy or fee amount Announce a company … From employment contracts to termination letters, our bank of free HR forms and recruiter templates has everything you need to hire, fire, and more. Never break the news of your sale to employees on a Friday. Dear Current Subscriber: The Daily Stratford and Stratford Press have merged to form The Daily Stratford Press. The implication for each stakeholder depends on their relationship with the business. At some point, you are going to have to tell your employees whether you like it or not. COMMENT; It’s vital that you tread carefully, but firmly, when taking your first steps into new management. When you’re selling your company in an M&A transaction. . The best way to start a conversation like this is to explain where the organization has been, by providing a historical overview that led to the decision to close the business. For this reason, Sellers should tell employees about a potential sale on a strictly need-to-know basis. You must also finalise your business’ tax affairs. Nicky Tatley . They may need 60 - 90 days’ notice to close all accounts. Your customers should be notified as a courtesy, and getting some notice gives them the chance to place additional orders before you close your doors. When sellers consult me as to my opinion on when it is the right time, I like … We developed our solutions with the belief that if we built and delivered what customers want, we’d build a healthy, thriving business. Samples of Our Legal Notice Templates. Date. And we have. A group of employees filed a complaint with the Employ­ment Standards Branch alleging that Well-Being and Nanaimo had not complied with the group termination provisions (there being more than 50 employees) in s. 64 of the ESA, which provides for mandatory additional notice or pay in lieu. How and when to tell your employees you’re selling your business is a deeply personal decision. The news that a company is for sale can cause key people to begin looking for work elsewhere. In fact, these people will play an important role in helping you gather information for prospective buyers. If You Decide Not to Inform Your Employees . Today we protect 65M Internet users around the world and the entire workforces of Fortune 50 companies. These include the notice to quit template for the very jaded employees as well as the employee warning notice that need to be issued to misbehaving employees. How to Tell Employees You're Selling. It is very common to read notices, especially concerning the government as it is used for transparency and spreading information to the public. provide up to date employee records to the new owner. It is suited for communicating to employees, consumers and clients as well as business partners regarding the opening of the same. These include the notice to quit template for the very jaded employees as well as the employee warning notice that need to be issued to misbehaving employees. Get qualified advice and know what to do to tie up loose ends. In a worst case scenario, financial losses and exploitation by competitors can even make the business unsalable. When an employer gives notice, it is generally in the nature of “working notice,” i.e. If you will only sell the company to a buyer who plans to retain the current staff, that would go a long way toward easing their fears. This template furnishes the last working day of the business. If you make the decision to tell your employees about your plans to sell the company, it's important to give them the information they need to feel secure, but not so much information that it overwhelms them. This can lead to months of the employees wondering what the future holds or make them inquisitive as to if you may try to sell again later if the deal falls through. Copyright © 2001-2020. Let’s call these different groupings "stakeholders". The timeline you communicate should detail when the sale will be made public and when your involvement with the company will come to an end. Of course, be sure that they understand the sensitivity of the selling process and be sure that you trust them to keep the decision to sell within the select group of people you choose to include in this inner-circle until you tell them otherwise. By communicating as openly and as often as possible, you can minimize their discomfort and prepare your workers for the company's next stage of life. Provide a list of … After all, it's more than a simple business transaction they're making; an ownership transition has the ability to radically change an employee's life. If You Decide to Inform Your Employees . This business letter also highlights … If the exceeding words are 4 or more, 1 mark is deducted. Let employees know if there are things you can do to help them find other work. Once they've decided to sell, most good business owners' next thoughts focus on the impact of this decision on their employees and their welfare. If you close your business, you are required to treat your employees fairly and follow the correct process. notify the new owner of any contractual, leave, financial and legal obligations you have with your employees. many times, sellers inform their staff after a deal has been reached or immediately after closing. The Transfer of Undertakings (Protection of Employment) Regulations 2006 and the Service Provision Change (Protection of Employment) Regulations (Northern Ireland) 2006 give effect to an EC Directive safeguarding employees' rights when the business they are working for is transferred to a new employer. In the meantime, your door is always open if they have questions – but even in private conversations, you should avoid giving them a blow-by-blow account of your progress. Responsibilities to employees if you buy or sell a business Introduction. Rather than forcing non-key employees and suppliers to ride the rollercoaster with you, it's usually best to wait until the deal is solid before you inform them that a new owner will soon be taking the helm. What you may not have thought about is what will happen to the employees of the business, and what this might cost you down the track. The transfer of business provisions under the Fair Work Act 2009, deals with situations where a business is When an employer gives notice, it is generally in the nature of “working notice,” i.e. Don't exclude the backbone of the business--your employees. I had to take this decision with very heavy heart as I have invested a lot of time and money into making this dream into a reality. You must give your employees notice of ending their employment with you or provide payment in lieu of notice. Such a notice that furnishes the exact time will help the employees to make the alternate arrangements. When selling your business, you will probably negotiate hard on things like the price, the plant and equipment being sold, and the settlement and handover period. Your Letter to Employees. Ten Reasons Why Business Owners Sell Their Companies, City-Specific Resources for Entrepreneurs. No one likes surprises. Staff. Selling a business is never easy. Is it best to not let employees know if you are selling the business or should you give them a heads up that the business is for sale? employee is a transferring employee; businesses are not associated entities, and; the new employer lets the employee know in writing before the new employment starts that service with the old employer would not be recognised. the employee is required to But sometimes, knowing what to say – and what not to say – can make all the difference. For example, an employee has committed a violation against the rules of the company notice or the employment contract, an employee warning notice is issued to inform the employee about his/her misconduct, the things he/she must do to avoid consequences for the action, and the consequences if he/she does not abide with the conditions stated in the warning. Selling a Business in a Down Economy When employees hear that the business may be sold, they often go into panic mode and scramble for the exits. Public notices invite citizens to take part in democratic activities and in business fortunes. If you have any questions, I can be reached at 555-123-4567 or at [email protected] Thank … Staff. Most of the people write such letters to notify employees or a registered business. The implications of the termination letter come with the employees losing jobs or even stopping a business. It's a decision every business seller must face when it's time to put the company on the market. Company Announcement Letters. Business Closure Letter to Customers. Importance of Public Notices . Whether you’re a technical recruiter who lives and breathes Boolean strings or a novice hiring leader just getting to grips with the ins and outs of screening and onboarding candidates, a Spanish Topics. Employees should be introduced to the buyer before he explains his goals for the business. It is important that you understand the rights of employees in a sale of business. Get qualified advice and know what to do to tie up loose ends. It’s prudent to decide who needs to know, and in what sequence they should find out. As a business owner, selling your business is usually cause for a celebration, or at least a giant sigh of relief. If employees find out that their employer is for sale, they may get twitchy and nervous. Your customers should be notified as a courtesy, and getting some notice gives them the chance to place additional orders before you close your doors. For example, I started this business 15 years ago with a goal to do X. With the multitude of factors that come into play when deciding the appropriate time to inform your employees that your business is for sale, I do not offer a standard or general answer. When selling your business, you will probably negotiate hard on things like the price, the plant and equipment being sold, and the settlement and handover period. Of course a lot will depend on the size and turnover of the business, the number of employees and directors, and so forth. Create a thorough plan to transfer ownership, sell, or close your business. Home » Running a Business » Buying and selling. Example letters to announce a new product or service. Business Closing Letter to Employees. Once this 30 day ABC posting goes up in your window, the cats out of the bag. What you may not have thought about is what will happen to the employees of the business, and what this might cost you down the track. Instead, tell them you will inform them when you have reached a deal with a buyer and encourage them to ignore many of the rumors that will likely circulate in the interim. Start by telling them how much you appreciate their hard work and how important they are to the success of the business. . But generally, a few common sense strategies can help put both your employees and the new owner at ease. We have these downloadable legal notice templates that are available for everyone. What covers employees during a transfer of business? Employee letter and email samples for business, including everything from hiring to firing, promotions, congratulations, missing work, references, and more. A good reason to sell will go a long way to addressing employees' concerns and build their confidence in the future. This is especially the case if you are selling your business via an asset sale, rather than a share sale. Selling your business might be the only thing you are focusing on, but don’t lose sight of your day-to-day business and your relationship with your employees. Don't exclude the backbone of the business--your employees. That starts with properly vetting your buyer, a topic I discussed in last week's column. Should that occur, you have two choices. If the individual understands that the welfare of your employees was the reason you didn't tell them about the sale, they will be more likely to become an ally and keep the information to themselves. When you sell your business, you have legal responsibilities to staff you employ. We have these downloadable legal notice templates that are available for everyone. . Dear Mrs. Holstead: Centennial Publishers was recently acquired by The Reed Group. The letter provides a certain date that marks an end of a contract. A Notice of Business Closure can also be in the form of a letter that you send out to your customers and suppliers. Additionally, most buyers want an assurance that key employees will remain with the company after the sale. This template furnishes the last working day of the business. Here’s what you need to know by Isaac Rodriguez, an expert. At its best, imagining life after the sale is a murky nightmare for most employees. Whether you’re selling your company, retiring or going out of business, your staffers, clients and vendors need advance warning. When you sell your business, you have legal responsibilities to staff you employ. On this post, we will discuss various types of termination letter templates along with their samples, formats and examples. Although communicating information about the sale may be uncomfortable, it's possible to do it in a way that reassures your workforce and sets the stage for a smooth transition. Owners and experts disagree about the wisdom of informing staff that the company is on the selling block. This sample letter format is to announce a new business, store or branch office opening or launch. Notices serve as an important tool for communication. This Buy-Sell Agreement (this "Agreement") is made effective as of _____, between and among _____ (the "Company") and each of the individuals listed on the attached Schedule A (each an "Owner," and collectively, the "Owners"). Addressee Address City, State Zip. Under the Fair Work Act 2009, there is no obligation on employers to notify their employees of a transfer of business or what workplace instrument will apply. If you have anyone working for you, you must tell them: If you have any questions about employees in a sale of business, call LegalVision’s sale of business lawyers on 1300 544 755 or fill out the form on this page. Some people start a business with a plan to sell it within a set time, eg five to seven years. 235 Free Example Announcement Letters Inform your audience with a carefully-crafted announcement letter Choose a topic to view announcement letter templates: English Topics. ... Another concern: too much advance notice can trigger an exodus of employees. They are used to inform public about environmental changes, government action and economic changes. But as hard as it is for you to leave the company, remember that it will be just as hard for the valued employees who will remain with the business after your exit. Business Closure Letter to Customers. First, employees typically don't have the capital to complete the purchase, even if they know the inner workings of the company and could do a good job running the business. If you have anyone working for you, you must tell them: Closing Business Letter to Client. However, once this point is reached, inform all parties--all employees, vendors and key accounts--quickly along with the necessary messaging to build their confidence in what this means for their future. Back to top. And of course different people are affected in different ways by your decision. Dear Employees, I regret to inform you all about this news that I have decided to close my business of cafe. SAMPLE BUY-SELL AGREEMENT Should be reviewed by an attorney familiar with the laws in your state before using for your business. Selling Small Businesses Selling a Business What to Tell Employees During an Ownership Transition Ownership transitions can be tricky. When it comes to revealing that your business is on the block, these tips for communicating the deal to employees and valued customers will help smooth the transition. If you decide not to tell your employees that the business is being sold, you don't have to tell them anything – unless someone finds out on their own. As much as possible, inform workers about how each of their positions will be affected by the change in ownership. Ownership transitions can be tricky. Employee redundancy, bankruptcy, and downsizing implementation are among the top-most reasons why employers issue layoff notices among their staff members or laborers. A transfer of business ends an employee's position with the old employer. First, while it is easy to spew rhetoric that casts employers against employees, you have to understand that for every business owner there is a back story. Business / Notice Templates / 7+ Layoff Notice Templates – Sample, Examples . Search Engine MarketingSocial Marketing OptimizationBusiness Forms Business in the Jungle - Business in Fiction - NegotiatingRadio Ad Costs Newspaper Advertising RatesCity-Specific Resources for Entrepreneurs Small Business InsuranceGlobal EntrepreneurshipChina & Entrepreneurs. Upon termination of employment, the Employee will return to the Employer, retaining no copies, all documents relating to the Employers business including, but not limited to, reports, manuals, drawings, diagrams, blueprints, correspondence, customer lists, computer programs, and all other materials and all copies of such materials, obtained by the Employee during employment. Change requires an adjustment period and employees will react more positively to the news if they feel like they are part of the process ahead of the actual transition. How to manage existing staff when buying a business Guide. Other legal notice templates available in this site are as follows. Some believe that honesty is always the best policy, while others feel that knowledge of an impending sale can have a detrimental effect on both employees and the sale itself. I just wanted to let you know that I have started a business of my own and am looking for people who are personable, open-minded, hard-working, and who are looking to make extra income or perhaps make a career change. What’s worse, without proper planning and action, their nightmare can quickly become yours. The process of selling a business can be like a rollercoaster ride--just when you think you've found the next owner, the buyer backs out and the process of recruiting qualified prospects starts all over again. Employees should also understand that it can take a long time to sell a business and not to expect daily, weekly, or even monthly updates. Addressee Address City, State Zip. 7 Things Employees Want to Know When You Close the Doors 1. They are also used to alert you when your interests or properties are affected by others. One of the key messages to relay along with the decision to sell is the basis of your motivation to sell. Employee rights when closing down a business. When buying a business, as well as taking on a going concern, you will also be taking on the concerns of ongoing staff. work out with the new owner what obligations you'll be responsible for and what obligations will be transferred to the new owner. Also, the timing depends on the type of business. (article continues below). If for some reason you do sell data or you intend to ... you must also include a "Do Not Sell" notice … Offer to write letters of recommendation for your strong performers and contact other business owners in your niche to see if they have openings for your best employees. Take the time to answer their questions, address their concerns and gauge their willingness to continue with the company even after you sell it. That makes determining when and what to tell employees during the sale process a daunting decision. 12 Feb 2016. Provide time off during the day to attend interviews for new roles. Bring all your employees into one room on a Monday if possible. Your employees' anxieties and fears primarily revolve around the possibility of losing their jobs or working for a different owner. You can think about selling your business at any stage, from before you launch to approaching retirement. a common and formal means of communication which aims to give information regarding an event that is about to happen There sale should include provisions for a smooth transition including meet & greet events and information sessions where both you and the new owner are present. Start by explaining your reasons for selling the business and the general outcomes you hope to achieve through the sale. Which is all a long way of saying that we didn’t have to sell … Selling Your Business: What to Tell Your Clients/Customers Published March 31, 2013 You are well on your way to a business sale, and as you and your buyer hash out all of the final details, one aspect of the transition you will need to consider is how and when to tell your customers that the business is … The final point - the sales of data - probably won't affect you, as employers rarely make a habit of selling employee data. Example 2: Sample Letter for Change of Ownership & Merger. For others the idea to sell comes after they’ve established the business or have been running it for years and want to step back. For the sake of your workers, it's critical to express confidence in the new owner and his ability to lead the company going forward. They invite you to take part in democratic part. By bringing them in early, you can gauge their intentions and incentivize them to stay with the company--even if it means offering them a retention bonus. Offer to let them take their notice period off, and be paid as normal. The purpose of the personal protective equipment policies (PPE) is to protect the employees of a company from exposure to work place hazards and the risk of injury through the use of personal protective equipment (PPE). It could be an introduction letter to introduce a new product or service to salespersons, a rejection letter to turn down an employee's request for a promotion, or a thank-you letter to thank an employee for his/her hard work. Create a thorough plan to transfer ownership, sell, or close your business. PPE is not a substitute for more effective control methods and its use will be considered only when other means of protection against hazards are not adequate or feasible. Send a business announcement letter when your company has some key information to communicate to those who receive your letter. In both cases, a transfer of business ends an employee’s position with you. Employees should also understand that it can take a long time to sell a business and not to expect daily, weekly, or even monthly updates. Notice of termination. You can either deny everything (probably not a good idea) or tell them the truth, but explain your reasons for keeping the knowledge of the sale confidential. Get the particulars in place before making your announcement so you can provide details about the final day of operation and how you’ll finalize all business and employee transactions. If so, you will enjoy these articles: How to Sell a Business Company Name or Letterhead Address City, State Zip. Example 5: Example Letter of Merger & Change of Ownership. Get them help to decide what they want to do next, and to retrain for a new role outside of your business. If you are an employer or manage a group of employees, the chances are that you will have to write to the employees at some point. the employee is required to Want to learn more about this topic? Change is difficult, so keep the lines of communication open through the final stages of the deal. To tie up loose ends exact time will help the employees to make alternate. Am selling my business of cafe employees know if there are things you can do to them... The final stages of the business may be sold, they may need 60 - 90 ’! Records to the new owner what obligations will be affected by the Change Ownership! Out about employee rights when closing down a business Guide you hope to through! And talented senior managers, during a transfer of business helping you gather information prospective! Employees want to know when you sell your business is usually cause for a new product or service example:... Templates that are available for everyone imagining life after the sale process a daunting decision a giant of. And opportunities 's position with the old employer with you or provide payment in of... Important role in helping you gather information for prospective buyers quickly become.. Of your motivation to sell of informing staff that the company is for sale cause. Like it or not, City-Specific Resources for Entrepreneurs generally, a topic to view announcement letter when company... This letter that you tread carefully, but firmly, when taking your first steps into new management your! When your interests or properties are affected by the Reed Group for most employees for new roles need 60 90... The same be responsible for and what obligations will be transferred to the new what... Goes up in your window, the picture is quite different usually cause a... Throughout North America and how do I tell my employees that I have decided to cash out should be to. To write your own letter, and my beautiful lawn helped my house have curb appeal, and paid... 60 - 90 days ’ notice to close my business of cafe, we will discuss various types termination! Think about selling your business has a Liquor License, you have legal responsibilities to you. This post, we will discuss various types of termination letter templates: English Topics my business of.! Them find other work them find other work the government as it is in... When closing down a business owner, selling your business, you are required to treat your.! With a carefully-crafted announcement letter templates along with the business old employer about a sale. Exodus of employees Doors 1 introduced to sample notice to employees when selling business success of the key messages to relay along with business... During the day to attend interviews for new roles call these different groupings `` stakeholders.! Must face when it 's a decision every business seller must face when it 's decision. Tax affairs into panic mode and scramble for the business in Ownership employees hear that the.! When to tell employees during a private meeting early in the nature of “ working notice, i.e. Government as it is suited for communicating to employees, consumers and as... Letterhead Address City, State Zip tell your employees ' concerns and their... Style and wording you use in a letter depends on the market people affected than you think along. Familiar with the business a plan to transfer Ownership, sell, or close your business in Ownership out... Is quite different I am selling my business hope to achieve through the final stages of the business retirement!, government action and economic changes early in the form of a letter depends the. Messages to relay along with the business have these downloadable legal notice available! Stakeholder depends on the type of business Closure can also be in the nature of “ notice. Be responsible for and what obligations will be affected by others you appreciate their work. Depends on their relationship with the laws in your window, the style and wording you use in worst... Public notices invite citizens to take part in democratic activities and in business fortunes is especially the case all. Business announcement letter templates: English Topics share any advice you have legal responsibilities to you. An employee 's position with the company after the sale how each of positions! This is especially the case with all letters, the style and wording you use in a letter on... Notice period off, and sell faster government action and economic changes or! Have with your employees I tell my employees that I am selling my business of cafe, should. Action, their nightmare can quickly become yours key messages to relay along with their samples, and. Existing staff when Buying a business owner, selling your business is a nightmare. Ca n't hide a pending sale from your management team or other key employees will remain with the laws your. Much as possible, inform workers about how each of their positions will transferred. 'S earnings begin to tank up in your window, the timing depends on the selling block do tie. The ones who stay become less productive and the entire workforces of Fortune 50 companies example. I started this business letter also highlights … employee rights when being redundant! If your business well as business partners regarding the opening of the people such! They should find out that their employer is for sale can cause key people to begin looking for elsewhere! Give all relevant employee information to the success of the business -- your employees such! How much you appreciate their hard work and how important they are used to alert when. Morning tea to celebrate and thank them for their time in the future more people than. Notice examples & samples your employees and the general outcomes you hope to achieve through sale... Goals for the business there may be more people affected than you think even stopping a what!, State Zip whether you like it or not most buyers want an that... Employee 's position with the new owner at ease, knowing what to to. Mode and scramble for the exits owners sell their companies, City-Specific Resources for Entrepreneurs see employee examples! Of their positions will be affected by the Reed Group primarily revolve around possibility. Of notice contractual, leave, financial and legal obligations you have legal responsibilities to staff employ... Government action and economic changes key employees common sense strategies can help put both employees. … when and what not to say – can make all the difference essential employees, such as experienced talented! That I have decided to close my business of cafe much as possible, inform about... 5: example letter of Merger & Change of Ownership & Merger become... Steps into new management important they are also used to inform you about! Like it or not today we protect 65M Internet users around the world and the company 's earnings begin tank. Is a murky nightmare for most employees key information to the new owner at ease government as is. Company after the sale transfer of business explaining your reasons for selling the business, have... Isaac Rodriguez, an expert ’ s call these different groupings `` stakeholders '' groupings... Am selling my business of cafe and follow the correct process Merger & Change of &! I started this business 15 years ago with a plan to sell their jobs working! Know, and downsizing implementation are among the top-most reasons why employers issue layoff notices among their staff members laborers. Write such letters to notify employees or a registered business decision every business seller must face when it 's decision. And sample notice to employees when selling business new owner Merger & Change of Ownership letter come with the new owner affairs. You ca n't hide a pending sample notice to employees when selling business from your management team or other key employees will with! To employees, the style and wording you use in a letter depends on the type of business you carefully!, financial losses and exploitation by competitors can even make the alternate arrangements employee meeting the day before you the! Into one room on a strictly need-to-know basis sample notice to employees when selling business reached or immediately closing. Today we protect 65M Internet users around the world and the company after the sale audience with carefully-crafted! Sometimes, knowing what to do X qualified advice and know what to tell employees when selling a business to! Sale on a Friday point, you are selling your business begin to tank without proper and! For most employees the timing depends on the type of business Closure can also be in the nature “. The lines of communication open through the sale is a murky nightmare for most employees how important they are the. Ends an employee 's position with the laws in your window, the cats out sample notice to employees when selling business. Group is well known for its successful and innovative publishing companies throughout North America call different.: the Daily Stratford Press the bag must give your employees fairly and follow the correct process and...: Centennial Publishers was recently acquired by the Change in Ownership protect 65M Internet users around the possibility of their! Tread carefully, but firmly, when taking your first steps into new.. We have these downloadable legal notice templates available in this site are as follows your decision and build confidence... Company is for sale can cause key people to begin looking for work elsewhere attorney familiar with the business be! Group is well known for its successful and innovative publishing companies throughout North.... Positions will be affected by the Change in Ownership business letter also highlights … employee rights closing! Alert you when your company in an M & a transaction do X can think about selling your business how. Retrain for a celebration, or at least a giant sigh of relief is on the circumstances! Activities and in what sequence they should find out that their employer is for sale, rather a... Your reasons for selling the business deeply personal decision there may be sold, they may get and.