Preparing your business for sale

Know what you want to hand over

Decide whether you intend to sell shares, selected assets or the whole trading operation. Consider your preferred timing, your future role and the handover you can offer. Ask tax and legal advisers to compare structures before making promises to a buyer.

Make the financial story easy to follow

Prepare recent annual accounts, current management figures and a reconciliation of reported profit to the earnings you are presenting. Separate one-off adjustments, debt and owner-related costs. Explain seasonality and capital requirements rather than burying them in a spreadsheet.

• A clear annual turnover and profit period.
• An evidence schedule for adjustments.
• Current cash, debt and working capital positions.
• A realistic owner-replacement plan.

Plan the release of information

Use an accurate public description that does not expose customer data or confidential contracts. Check permissions for photographs. Release sensitive details in stages after buyer qualification, appropriate consent and any required NDA. Decide who will answer questions and keep a record of documents shared.

Prepare people and responsibilities

A sale can affect employees, premises, lenders, suppliers and customer contracts. GOV.UK explains business transfer and employee-protection responsibilities, including circumstances where TUPE applies. Scope these issues with advisers early; deal structure and facts matter.