| If you are in the market to buy or sell a business | | | | foremost. |
| and have made the decision to work with a | | | | A growing industry may attract unsavory |
| professional in the business brokerage industry, | | | | "professionals" |
| please use caution who you deal with. | | | | The industry is growing in Canada and this can |
| Unfortunately, not all "professionals" in the industry | | | | attract unsavory business brokerage |
| follow a strict code of ethics or have the highest | | | | "professionals" to the industry. The field of |
| professional integrity, as they are supposed to. | | | | business brokerage is considered a "growth" field. |
| This article will examine some of the more | | | | The number of 'baby boomers' retiring over the |
| common things to consider and look out for when | | | | next 10 years will cause a spike in demand for |
| working with a business brokerage firm or | | | | business brokerage services. Boomers who own |
| professional. | | | | businesses in southern Ontario may want to retire |
| What is their reputation like in the industry? | | | | and sell a business and boomers who are in the |
| Does the firm you are considering working with | | | | corporate world may decide it's time for a new |
| have a good reputation in the industry? Are they | | | | challenge and want to buy a small business. The |
| considered honest and ethical by their peers? Be | | | | point is that there may be players attracted to |
| wary of dealing with firms that espouse | | | | this industry who only see the dollar signs |
| themselves to be ethical professionals in the | | | | associated with such growth and are willing to set |
| business brokerage industry when, in fact, a quick | | | | ethical behavior towards their clients and industry |
| survey of industry peers would suggest | | | | colleagues aside as a result. |
| otherwise. | | | | As a consumer, please be vigilant about protecting |
| As with most things, it is quite easy to present | | | | your interests and please, only work with a |
| oneself as being a leading, ethical organization. As | | | | business brokerage professional who has a good |
| a potential client, please ensure that this is in fact | | | | reputation and if it "feels right." Usually, if a |
| true and if it is also recognized by the broader | | | | business relationship doesn't feel right or if |
| profession. | | | | something about the "professional" or firm seems |
| Have they crossed any ethical boundaries? | | | | amiss, your hunch is probably correct so find |
| Before you commit to dealing with a firm, ask | | | | yourself another business broker to work with. |
| around. Have they crossed any ethical lines that | | | | Buying or selling a business can be a convoluted |
| they should not have? Have they truly put their | | | | process. The decision to work with a business |
| clients first? Do they strictly adhere to the Real | | | | brokerage professional is a wise one. The vast, |
| Estate & Business Brokers Act Code of | | | | vast majority of professionals in this field are |
| Ethics? | | | | ethical and do not cross moral boundaries. The |
| Before you sign on the dotted line to work with a | | | | main point to keep in mind is to be careful |
| business brokerage firm or professional, please | | | | because, like in all industries, there can be a few |
| ensure that they put business ethics first & | | | | 'bad apples' that spoil it for everyone. |