YOUR NEXT CHAPTER STARTS WITH A PLAN

Selling a business checklist for UK SMEs.

Know what to prepare before approaching buyers, what to organise once there is interest, and what to check before exclusivity.

Understand the numbers. Prepare the evidence. Decide with clarity.

Sale readiness checklist ↗

ACA

Kishen Patel, BFP ACAICAEW Chartered Accountant

What financial records do I need before selling my business?

Start with annual accounts, reconciled monthly results, a debt and cash schedule, major customer and supplier summaries, and evidence for unusual earnings adjustments. Record missing items and assign someone to resolve them.

Practical example: Keep a buyer-facing summary separate from detailed records in a controlled data room. If the transaction is a share sale or an asset sale, check the different responsibilities with your advisers. GOV.UK: responsibilities when selling a limited company.

Discuss what to prepare first

YOUR NEXT STEP

Selling a business checklist: what to do first

Before contacting buyers

Reconcile the latest monthly accounts. Write down owner duties, exceptional earnings or costs, and major customer dependencies. Decide what the numbers can support before discussing price.

When a buyer shows interest

Create an indexed list of accounts, management reports, customer and supplier summaries, key contracts and debt schedules. Assign someone to fill each gap. Keep sensitive records in a controlled data room.

Before exclusivity

Review the proposed timetable and compare headline price with cash expected at completion and any deferred amounts. Ask your advisers which issues could delay diligence or change the deal.

Discuss your sale readiness Get help preparing for sale Prepare for buyer due diligence

Use the tool as preparation

This browser-based tool helps you explore a starting point. It does not produce professional advice, a valuation, a credit decision or a personalised recommendation. Tool inputs stay in your browser and are not included in your enquiry.

Bring the questions to the conversation

Use the result to identify the information you need to gather or the assumptions you want to discuss. A scoped engagement can examine your business circumstances and the supporting evidence in more detail.

YOUR PREPARATION STARTS HERE

What is already
in place?

Select the items you have ready. This is a preparation checklist, not a valuation or a readiness certification.

Recent management accounts reconcile to annual accounts.One-off costs and owner-related adjustments have supporting evidence.Customer concentration and key contracts are documented.Debt, cash and working capital balances are understood.A forecast with clear assumptions is available.Your intended timing and appointed advisers are clear.

YOUR NEXT CONVERSATION

0 of 6 in place

Start with reconciled financial information, then work through the remaining items with your advisers.

Discuss the gaps ↗

MAKE YOUR NEXT DECISION A CLEARER ONE

Ready for the next step?
Let’s make it clearer.

Discuss my business sale ↗

A clear brief. An agreed scope. A useful next step.

CONSULT EFC · PRACTICAL GUIDES

Go deeper before your next decision.

Selling an SME: how to manage buyer due diligence questions

Build a useful due diligence question log, reconcile answers, protect confidential information and keep financial preparation aligned with legal and tax advice.

Read the guide ↗

Selling your business: make the owner handover credible

Prepare a practical owner handover before an SME sale: relationships, authority, replacement costs, transition evidence and the assumptions behind buyer expectations.