Your business exit options
There is no single best way to exit a business. The right route depends on your objectives, likely value, ownership structure, how involved you wish to remain, your financial needs, your timeframe and your appetite for risk. Most owners compare two or three options before deciding.
Full exits
- Trade sale: selling to another company, often a competitor or adjacent business.
- Management buyout (MBO): selling to your existing management team.
- Employee Ownership Trust (EOT): selling a controlling interest to a trust for your employees.
- Management buy-in (MBI): selling to an external management team.
- Family succession: transferring ownership to the next generation.
- Sale to private equity or an investor. See selling to an investor.
The main business exit routes
Full sale
Ownership transfers entirely to a trade buyer, investor or other purchaser.
Partial sale
You sell a majority or minority stake and remain involved alongside an investor.
Management buyout
Your existing management team buys the business, usually with external funding.
Employee Ownership Trust
A trust acquires the business on behalf of all employees.
Succession
Ownership passes to family or a chosen successor, often gradually.
The right route depends on your objectives, the business's readiness and the buyers available. Many owners compare more than one.
Partial and staged exits
- Majority or minority share sale: releasing value while retaining a stake.
- Strategic investment: bringing in a partner to accelerate growth.
- Merger or strategic alliance: combining with another business.
- Staged exit: selling in tranches over time.
Share sale or asset sale
Most exits are structured as either a share sale, in which the buyer acquires the company, or an asset sale, in which it acquires selected assets. The choice affects tax, liabilities, employees and contracts. Our trade sale guide explains the difference.
When a sale is not practical
Some businesses cannot realistically be sold, for example where value depends entirely on the owner. Closure through an orderly wind-down or a members' voluntary liquidation can be the right outcome. This should be a considered decision taken with professional advice, not a default.
What to read next
- Exit options · Trade saleSelling your business to a trade buyer
- Exit options · Management buyoutManagement buyouts explained
- Exit options · Employee Ownership TrustExiting to an Employee Ownership Trust
- Articles & AdviceWhen Selling Is Not the Best Option: Alternatives to a Full Exit
- Articles & AdviceExit Planning: What Happens When Only One Partner Wants Out
Have another question about your business sale?
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