If you own shares in a company, you may have several options. For example:
Arranging a trade sale of the business.
Floating the company and selling some or all of your shares publicly.
Selling some or all of your shares privately to existing shareholders, other investors or the management of the business ("an MBO").
Selling some or all of your shares back to the company.
Your options may be limited by the circumstances such as the company's profitability and cash position. They may also be limited by any shareholders' agreement or the company's articles of association. For example, you might be required to offer your shares to existing shareholders before you can offer them to outsiders.
Even if you decide to pass shares on to your family, you (or they) may choose to recruit external managers or directors.
If you are a sole trader, you will generally need to sell the business or its assets (or form a limited company, transfer the business to it, and then sell the company). If you are a partner in a partnership, the partnership agreement will normally specify what capital (if any) you can withdraw on retirement and how this will be handled.
In any case, you will need advice on the best method and the tax implications.
