13th March 2026
Thinking about selling your business? It’s a huge milestone and it deserves careful planning.
Get it right, and you’ll set yourself up for long term success. Get it wrong, and you could lose time, money, and peace of mind.
In this smart seller’s guide, Jen Goodwin, Director and Head of Corporate at Myers & Co, outlines the must‑know steps to safeguard your position and complete your businesses sale with clarity, confidence, and certainty.
Jumping straight into a sale without preparation is risky. Buyers want a business that’s easy to understand and transfer. Start preparing 3–6 months ahead:
A little preparation now can prevent delays, renegotiations, and price reductions later.
It’s natural to think your business is worth more than the market says. But unrealistic expectations can put buyers off. Value depends on:
Getting an independent valuation early helps set fair expectations and keeps negotiations on track.
Tax can make a big difference to what you take home. The way you sell, a share sale vs an asset sale, matters. Many sellers overlook this until its too late.
It’s important to speak to a tax adviser early to structure the deal efficiently and avoid unexpected bills.
Sharing too much too soon can harm your business if the sale falls through, staff may worry and leave, competitors may take advantage, and customers may hesitate.
Protect yourself with:
Unresolved legal matters can derail a deal or reduce your price. A legal “health check” before marketing your business can potentially save you time and more importantly, money.
Key documents:
A non‑binding outline of the deal, price, what’s being sold, key conditions and timeline. It sets expectations.
The main contract: price, what’s included, payment terms (e.g., upfront vs earn‑out), warranties (promises about the business), indemnities (protections if specific risks arise), and completion details.
Where you formally tell the buyer about exceptions or risks (e.g., a dispute, a contract that might end on sale). Proper disclosure helps protect you from future claims.
A high price isn’t everything. Check buyers for:
Choose someone who aligns with your goals and can complete the deal smoothly.
Selling a business is complex. The right team makes all the difference:
Selling your business is more than a transaction, it’s a strategic process.
Our experienced Corporate & Commercial team guides you every step of the way, helping you avoid costly mistakes, protect your position, and achieve the best outcome for you.
Contact our Corporate & Commercial team today for clear, practical advice tailored to your goals.
Give us a call, or make an enquiry to find out how we can help.
