All businesses owners will at some point exit but the methods and options are numerous and varied. Businesses may be passed down from generation to generation either on death or before, sold to third parties or perhaps pass to the management or the employees. Alternatively, the business may cease and for companies they may be liquidated to extract any assets back to the shareholders.
Businesses should have a clear succession and exit plan, which of course may need to be adapted over time as circumstances change, but will enable the business to plan ahead in respect of both commercial and tax implications of this plan.