What if my staff find out I am selling before I tell them?

You planned to announce the sale on your own terms, and someone got there first. A conversation overheard, an email sent to the wrong person or a buyer’s visit that raised questions can all start talk. The worst response is silence. Staff fill gaps with guesses, and guesses are usually worse than the facts. A calm, prompt reply keeps the rumour from setting the story.

Respond the same day

Do not deny what is true. If you say nothing is happening and the sale then goes ahead, trust is hard to recover. Gather the team or speak to people directly, confirm that you are exploring a sale, and say plainly what you do not yet know. You can keep price, buyer names and terms to yourself while still being honest about the fact of it.

Talk to key people first

Some staff matter more to the business than others, and they will worry first. Meet them one at a time if you can, before the wider group. Say what you expect to happen and what you will tell them next. Your plan for telling employees may need to move earlier than you intended.

Tell your broker and any buyer

Tell your broker straight away, since they can help with wording and with buyer contact. If a buyer is already involved, let them know, because a confidentiality agreement may be in play. Ask your lawyer whether it was breached. Then look at how the word travelled, so you can close that gap for the rest of the process.

Steady customers and suppliers

Staff talk, so customers and suppliers may hear next. Prepare a short, consistent message: the business continues, service is unchanged and you will share news as it is ready. Give your team the same message so everyone speaks with one voice. See also keeping a sale confidential.