Skip To The Main Content

Plan early if you want to sell up

Small business owners should start planning their exit strategy well ahead of their forecast retirement date, says Moore Stephens, which has published data on the age of directors.

One-third (33 per cent) of small business directors are over the age of 60, and two-thirds over 50, based on analysis of 403,000 directors on the boards of 83,000 UK small firms.

Steve Wheeler, a Partner in the private client services team at Moore Stephens, said: “Owners don’t feel ready to address this issue until it is almost upon them or are too busy.” He advises restructuring to make the business easier to sell, and looking at tax arrangements and reliefs.