There are many reasons why someone might consider selling their business: they may be about to retire; they may have been made an attractive offer of employment; or the business may be about to fail. Whether a business owner chooses to sell their business to their employees, business partners, shareholders or a third party, selling a business can be a complex and lengthy process. The approach to the deal will depend on the owner’s reasons for selling, and it is vital to seek professional support and advice in order to achieve the best result.

This factsheet explains how to prepare a business for sale. It covers the legal and tax issues, how to plan the sale, the process of finding a buyer and how to negotiate a sale.