How to sell a business when you’re self-employed

Whether you’re considering it by choice or necessity, it’s important to understand how to sell a business when you’re self-employed. Getting the best financial return from a sale can make a huge difference to your life, as can failing to meet your legal, contractual and tax responsibilities.

You may decide to sell up for a number of reasons, including investing your time and money into a different venture, retirement, or current interest from buyers. The decision can also be prompted by ill health, debts, or a fall in demand. In all cases, investing time and preparation will typically help you find the best deal, and avoid it falling apart due to unexpected problems. 

If you’re looking to release some of your money tied up in the business, you may want to look at selling assets instead of the whole company. This can include equipment no longer needed, or intangibles such as intellectual property. Or you may decide to close your limited company rather than waiting for a buyer.