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Is my business ready to sell?

In short

A business is more likely to be ready to sell if it can run for several weeks without the owner, management can make key decisions, monthly accounts are reliable, contracts are documented, customer concentration is understood, and shareholder and ownership issues are resolved. If several of these are not yet true, preparation before a sale process is usually worthwhile.

Written by Tony Vaughan

Last reviewed: · Editorial policy

Key points

  • Fourteen quick yes/no questions.
  • Several "no" answers suggest preparation is needed.
  • The full assessment scores five readiness dimensions.

Answer each question honestly with a simple yes or no. The questions mirror what buyers, funders and successors typically examine first.

Two colleagues checking bread quality on a commercial bakery bench

Quick readiness diagnostic

What should I do with the answers?

Each "no" points to one of the five readiness dimensions. Our free Exit Readiness Assessment goes further, scoring each dimension and suggesting priority actions. Our step-by-step guide then explains how to address them.

Take the full Exit Readiness Assessment How to prepare a business for sale

This guide is general commercial information based on professional experience of UK SME transactions. It is not legal, tax, accounting or financial advice, and transaction-specific requirements vary. Take advice from appropriately qualified professionals before acting.

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