Selling a business

If you’re looking at retiring and closing up shop, there’s a pretty good chance you can sell your business instead.

When you’re selling a business, there are some really simple things you can do to get the best bang for your buck. Getting your business ready years in advance is best, of course, but hindsight is 20/20 and you might not have the luxury of time.

One thing to keep in mind is that selling a business can sometimes be very time consuming, so make sure you keep this in mind before you decide to sell. If you’re using a good broker, this is less of an issue. But you’re still likely to get a lot of questions

Most of the advice below is for selling a small business. For a rundown on what we recommend for a larger sale, check out our M&A section.

Get an appraisal before you sell

If your business is large enough to use a broker, talk to a broker. Not all brokers are created equal, and we can definitely refer you to a good one if you’re unsure of who to talk to.

If you don’t want to, or you’re told that your business is too small, we could give you a high level value opinion that you can pitch it at on Trademe.

Be honest and open about what you’re selling

Don’t try to hide things – it will either come out in the due diligence process, or you’ll scare buyers away.

Laying out all the important information in black and white saves a lot of time and helps the negotiation run smoother.

That said, make sure you don’t give away trade secrets or other confidential information until the appropriate time. This is a difficult balance, so get in touch with us if you’re unsure.

Be available to help post-sale

If your business couldn’t run without you before, it’s probably not going to anytime soon. Be prepared to keep working in the business, maybe part time, while you hand it over to the new buyer.

Next steps

We see a lot of businesses being bought and sold, and we’ve bought and sold a number of our own. We’re happy to have a chat with you on a complimentary basis to work out whether you need help, and what that might look like.

Get in touch by filling out the form below, or feel free to contact our team directly.

  • This field is for validation purposes and should be left unchanged.

Joshna Mistry

Partner and Value Added
Services Lead.
Read Joshna’s profile.

Humphrey Hart

Senior Analyst and
Entrepreneur.
Read Humphrey’s profile.

solid-icon1b.png
As a client Gilligan Sheppard you will have access to international networks and resources to enable optimal outcomes for your business / trust / transaction. xero logo It’s small business accounting software that’s simple, smart and occasionally magical. Log in online anytime, anywhere on your Mac, PC, tablet or phone to get a real-time view of your cash flow. 
As a client Gilligan Sheppard you will have access to international networks and resources to enable optimal outcomes for your business / trust / transaction. tax traders logo Tax Traders allows you to buy someone else’s tax to settle your account with Inland Revenue, as well as save on interest and late payment penalty charges.
As a client Gilligan Sheppard you will have access to international networks and resources to enable optimal outcomes for your business / trust / transaction. smart ar logo Astute cash flow management is essential for operating a small business.
As a client Gilligan Sheppard you will have access to international networks and resources to enable optimal outcomes for your business / trust / transaction. myob logo Trusted by 1.2 million businesses, myob is New Zealand’s largest accounting solutions provider. The platform is equipped to support the needs of New Zealand organisations.
As a client at Gilligan Sheppard you will access to international networks and resources to enable optimal outcomes for your business/trust/transaction.  accountancy insurance logo Tax Audit Insurance specifically designed for accountants in public practice. This provides cost effective protection and peace of mind against the substantial cost that may be incurred should IR or other government authorities conduct a random review, investigation or audit.
As a client Gilligan Sheppard you will have access to international networks and resources to enable optimal outcomes for your business / trust / transaction. cpa logo A CPA is a finance, accounting and business professional with a specific qualification. It indicates a soundness in depth, breadth and quality of accountancy knowledge and gives you competitive advantage over your peers.
As a client Gilligan Sheppard you will have access to international networks and resources to enable optimal outcomes for your business / trust / transaction. agn international logo AGN International is a worldwide asociation, composed of four regions, of independent accounting and advisory businesses.
solid-icon2.png
Tax Updates: 29 October 2024
Welcome to this week’s review of tax issues where Richard comments on what’s been happening in the world of tax over the past week. If you have a question or would like a second opinion [...]
Tax Updates: 21 October 2024
Welcome to this week’s review of tax issues where Richard comments on what’s been happening in the world of tax over the past week. If you have a question or would like a second opinion [...]
The blue deck chair: Putting a price on loyalty
In an unashamed take from Graham Norton, I intend to write a few stories called ‘the blue deck chair.’ You are free to pull the lever and flip my chair. So please send feedback, flip, or let me [...]
Power to the multigenerational work team!
In the 1960s and ’70s, hitting 65 was often seen as life’s finish line, with the average New Zealander expecting to live just a few years beyond retirement. Today, the landscape has changed [...]
The opportunity of a lifetime: from Canada to NZ
When I was first approached about doing a work exchange in New Zealand, I didn’t hesitate for a second. As soon as our office administrator mentioned the opportunity, I instantly said yes. I [...]
Survive to 25?
Some businesses are feeling uncertain in this economic climate, and many New Zealand businesses are echoing the mantra ‘survive to ’25.’ It’s a sentiment that reflects the hope for [...]
Tax Updates: 14 October 2024
Welcome to this week’s review of tax issues where Richard comments on what’s been happening in the world of tax over the past week. If you have a question or would like a second opinion [...]
Tax Updates: 7 October 2024
Welcome to this week’s review of tax issues where Richard comments on what’s been happening in the world of tax over the past week. If you have a question or would like a second opinion [...]
Tax Updates: 30 September 2024
Welcome to this week’s review of tax issues where Richard comments on what’s been happening in the world of tax over the past week. If you have a question or would like a second opinion [...]
The blue deck chair: A bank with an infinite game mindset?
In an unashamed take from Graham Norton, I intend to write a few stories called ‘the blue deck chair.’ You are free to pull the lever and flip my chair. So please send feedback, flip, or let me [...]

Read our latest articles

solid-icon3.png

Monthly News

Click here for details.

We are recognised as authorities in our specialised fields. We publish newsletters with informed opinions that are free for you to subscribe to.

A Week in Review

Click here for details.

Richard Ashby (our tax specialist) provides advice, comments and updates on what’s been happening in the world of tax each week.