If you own a limited company, all debts of the business, including bounce back loans that the business cannot pay in full or part, after assets and liabilities are calculated, will ultimately be cancelled if the business is insolvent.

One of the primary costs associated with selling a business is using solicitors to cover all legal aspects of the transaction. Find out if you should shop around and all about fixed fees.

Start by telling them how much you appreciate their hard work and how important they are to the success of the business. Then tell them that you have decided to sell and explain your reason(s) for selling. Next, talk about the buyer and their qualifications.