As you know, this season of the Business Owners Podcast is all about bringing you the best team of legal experts to get their top tips for Business Owners. From a practical perspective, it is so important for business owners to have the right advisory team around them, giving them the best possible chance of success in their business or business exit. As such, this week I am joined by one of Mills Oakley’s leading Employment Lawyers, Lisa Anaf, to talk about selling your business from an employment law perspective.
Employees are an essential element of doing business, and it is therefore vital to ensure that when it comes to your staff you are getting things right. In doing so, you not only ensure a harmonious and productive work environment, but also minimise potential issues in relation to employee exits, terminations, and future business sales.
Selling your business can be a daunting experience, particularly when a potential new investor wants assurances that your employees will continue to work in the business after they have taken over the reins. In this episode, Lisa provides some tips on how to ensure your employees are locked in before you begin discussions about selling your business, and provides insights on:
- Contractor versus employee relationships
- The importance of current signed contracts for employees
- The best way to minimise the risk of an unfair dismissal claim
- The best way of dealing with trade unions
These tips could mean the difference between a bumpy or smooth journey towards selling your business – and gaining bespoke advice will ensure you are in the best possible position to secure your desired outcome.
*Please note that any strategies discussed by Martin and Lisa are general in nature and do not take into consideration any of your personal circumstances. You must seek individually tailored advice to ensure you properly address any issues you may have around your business.