You may be considering a transition into retirement, or you could suddenly be unable to run your business due to unforeseen circumstances. You may have a successor in mind, like a family member or someone you’ve mentored. Is so, you will need to coach them on how your business operates and put agreement in place early.
If you don’t have a successor you will need to find the right person you can hand your business over to or consider selling your business instead. If selling your business is the best option for you, the first think you will need to do is speak to an accountant and business advisor who can help you understand the value of your business and how to create a more saleable business.