Business Sale Checklist

The Business is Sold – What Do Small Business Brokers Recommend to do Next?

As small business brokers, we have a checklist to help you organise the handover and exit.

For more information and assistance call: (03) 9005 0944

Motor vehicles

  • Ownership transfer documents?
  • Road worthy?
  • Cancel insurance?
  • Payout leases/mortgages

Business Name

  • Transfer of business name (Consumer Affairs)
  • Change of company name (ASIC)

Domain names (website)

Change of addresses

Food/Liquor Licences

  • Transfer liquor licence
  • Food handling permits
  • Health inspector reports

Trademarks

  • Transfer of Ownership (IPAustralia)

Security/Monitoring Services

  • Notifications
  • Transfer of accounts

Police registers

Utilities (Account notifications)

  • Electricity
  • Gas
  • Water
  • Rates

Communications (transferred to the purchaser?)

  • Land lines
  • Mobiles
  • Internet service provider

Petty cash

Superannuation accounts

  • Staff
  • Self

Forward and pre-payments

  • Advertising
  • Maintenance contracts (aircon etc)
  • Trade papers/newsletters
  • Newspapers
  • Memberships (associations etc)

Insurances

  • General
  • Public Liability
  • Professional Indemnity
  • Keyman
  • Income protection

Adjustment items

  • Debtors
  • Creditors
  • Voucher sales
  • Memberships (customer)
  • Credit notes
  • Consignments/presales

Workcover

Banking and accounts

  • Change names
  • Change addresses
  • Close/change
  • EFTPOS facilities
  • Merchant accounts
  • Credit cards

Debtors

  • Method of collection?
  • Retentions?
  • Run closing report – digital
  • Run closing report – hardcopy

Property Leases

  • Assignments or transfers
  • Bond recovery

Stock take

  • Set date
  • Method
  • System
  • Third party?

Exclusions/adjustments?

Copyright PSBB. November 2008