Guide to the Sale and Purchase of a Small Business
What is a Small Business:
In Australia, businesses with less than 20 employees, or a turnover of less than AU$2 million per annum, are generally classified as small businesses. Small businesses account for almost 98% of businesses in Australia, and 35% of Australia’s gross domestic profit, employing 44% of Australia’s workforce.
Regardless of a vendor’s reason for selling a business, for a purchaser, especially an inexperienced...