Hi all - I’m about to close on a very small deal. The business was created 40 years ago and the current owner has strong relationships with the vendors and customers. The owner said that they’d like to tell their contacts that the business was sold so they can “see what we need to do” to transition the relationships.

I won’t be in the business day-to-day because it’s not big enough to support my salary requirements. But the people in the business now will be (except the owner of course). Should I participate in these conversations? Should I lead them (so to speak)? Should the existing staff that will be managing the relationships going forward be involved? When should you have the conversations? Immediately after the close?

It’s also important that I retain the working capital that they have (ie, AP). Is there any risk the vendors won’t work with me?

Thanks for your advice.