Business Agents Require Better Regulation
Business Agents appear not to be properly regulated.
Many of these agents have very onerous contracts that a small business owner is caught out by. The contracts are also very one sided and cleverly worded documents which the agents then hide behind. The business owner will not be covered by any consumer protection and are often left in a grey area when it comes to selling your business as is it a business contract or a consumer contract? They are often then pursued and threatened by these agents with going to court if they do not pay up. So the end result is they do pay up because there is no protection by law when there is if they were a consumer.
We would like the Government to make it very clear they are exactly like an estate agent and should be covered by the same regulations at least, or alternatively make it that a sale of your shares in business is covered by the consumer regulations which will deter these Business agents from these onerous contracts.
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