Handing Over Your Company: What the Owner Needs to Do

The Bigger Picture In Selling Your Business

Get Your Business Ready For Handover…

Below we list the type of information you will need to supply the new owners with, although it clearly depends on the type of business you have.

If you’re leaving a management team, then much of this can be arranged by them, and the better your IT and CRM (‘Customer Relationship Management’) systems, the easier it will be to provide the information.


Any keys, keycards, passwords, security codes, alarm systems and other locks should be given to the new owners.

Also, supply them with detailed instructions on how to change combinations and passwords, suggesting that they change them to ensure that you no longer have access (or can help if contacted) should security issues occur.


Supply contact details for all staff members to the new owner(s) to include:

  • Name
  • Contact phone number
  • Contact email address
  • Salary and bonuses details
  • Employment contract
  • Details of current responsibilities in the business

Suppliers, business partners and professional services

Make a list of each business to include: name, type of business, services provided or products purchased from them, main contact name, contact number, contact email address, website address and any other account details of relevance (website logins, account numbers, outstanding balance, terms of engagement and length of contract).


Details of all daily, weekly and monthly processes plus copies of blank forms necessary for completing this work.

Where possible get your staff to document their management reporting and processes for the new owner, as this will also help smooth the transition,  and release you from any unexpected phone calls or issues.


A list of all current customers for the business including customer name, address, phone number and email address.

Computer Details

Details of the location of original CDs containing software sold with the business. Where software was purchased by individuals or downloaded, make sure that the licenses were with the business and not the individual.

Passwords for all computers, passwords used for any software on the computers and passwords used for the in-house network.

Provide a full list of each email address used by the business and associated passwords for these emails.

What’s in it for you?

The more you help up front, the less likely you are to be disturbed by the new owners or business staff with many questions about ‘where to find this’ and ‘where to locate that’.

The more you prepare for the future, the easier it will be for both sides to move on.

Contact the Firmgains Team

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