Are there specific legal requirements for buying a business in Shepparton?

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Yes. To protect your investment in Victoria, buyer should confirm if these conditions apply. Importantly, the Section 52 Statement is mandatory for any business sold under $450,000; if this financial disclosure isn't provided before signing, you may have the legal right to cancel the contract. For businesses with Liquor Licenses, you must secure approval from Liquor Control Victoria, as local council approval is no longer required. Finally, always request a Property Enquiry from the local council for food businesses to reveal any outstanding health orders so you don't inherit the repair costs.

Important: These laws are complex, so always consult a qualified commercial solicitor before signing any contracts.

For operational assistance, new owners can access resources through the Greater Shepparton City Council and Business Victoria, including the Business Acceleration Fund, which helps streamline regulatory approvals and digital upgrades. Additionally, the Victorian Small Business Commission (VSBC) provides free mediation services for retail lease disputes, a vital resource for navigating commercial tenancies.

> Buying a Business Advice - Business Victoria

Tags: shepparton

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