Business succession in 12 steps

1. 01Decide and set a time frame

   Plan three to five years ahead so there's time to prepare the business.

2. 02Bring in your tax advisor early

   Timing, legal form and taxes on the sale shape what you keep.

3. 03Make the business less dependent on you

   Hand over responsibility, write down routines, share customer contacts.

4. 04Organize figures and documents

   Statements for three years, contracts, inventory and staff list.

5. 05Work out the value

   A first estimate with every step shown, later a professional valuation.

6. 06Choose the succession route

   Family, employees or an outside successor: what fits you and the business?

7. 07Search confidentially

   An anonymous listing without name or town protects staff and customers.

8. 08Meet candidates

   Meet first, then the NDA, and only then share documents.

9. 09Share documents and answer questions

   The buyer checks figures and contracts (due diligence).

10. 10Agree price and terms

    In a letter of intent: price, payment, training period, timeline.

11. 11Settle the buyer's financing

    Bank loan, funding programs, guarantees and possibly a seller note.

12. 12Sign and hand over

    Purchase agreement with a lawyer or notary, then training and informing team and customers.

For orientation, not legal or tax advice. The order may differ for your business.