‘Don’t close it, sell it’: Business owners urged to get sale-ready as Budget changes bring business exits into focus

A new online marketplace for buying and selling micro and SME businesses has launched, aiming to help small business owners across England, Wales and Scotland prepare for retirement by selling their businesses rather than closing them.

Close to 300,000 viable small firms close each year because owners assume nobody would buy them. FairExchange offers a way for business owners to become sale-ready and sell directly, without paying commission.

The issue has become more pressing following confirmation that the lifetime limit for Business Asset Disposal Relief will be reduced from £1 million to £500,000 from April 2027, reducing the number of gains eligible for the relief and bringing succession planning back into focus.

Founded by business coach Simon Ellson and chartered certified accountant Ross Bugden FCCA, FairExchange was created after one of Ross’s clients asked for help closing his business ahead of retirement. Despite spending 12 years building its reputation, he believed the company was worth nothing. Within 12 months, Ross had helped him and his wife sell the business for £275,000.

Research suggests the challenge is widespread. A May 2025 survey by Capital on Tap of 250 UK small business owners found that 79% had no exit strategy in place.

At the same time, FairExchange says buyer demand is already strong, with more than 200 registered buyers currently using the platform and outnumbering sellers. The company believes this demonstrates that many owners may underestimate both the value and saleability of the businesses they have built.

Ross Bugden, co-founder of FairExchange, said:

“The Budget has put business exits firmly back on the agenda. The reduction in Business Asset Disposal Relief is another reason for owners to plan ahead rather than leave things until the last minute. Being sale-ready gives you options, and closing a good business because you think no one will buy it is often the most expensive option of all.

“We’ve already seen strong demand from buyers looking for acquisition opportunities, which suggests many owners may be underestimating the value of what they’ve built and the opportunities available to them.”

FairExchange positions itself between traditional business brokers, who typically take a percentage of the sale price, and general listing sites. Sellers can list from £100 per month with no commission on completion, upload formal accounts to a secure Data Vault and access vetted solicitors, accountants and business coaches.

Buyers can browse listings free of charge, pay £49 to unlock full business details and pay a 0.75% fee only when a purchase completes. All users are ID-verified at registration.

The company is also preparing to launch a new ‘Business Wanted’ feature, allowing buyers to advertise the types of businesses they are looking to acquire and connect with owners who may not yet be actively considering a sale.

Ross Bugden added:

“There are good businesses all over the UK where owners have built something genuinely valuable but have no clear route to finding the next owner. At the same time, there are people actively looking for exactly those opportunities. Too often, the two sides never meet.”

Simon Ellson, co-founder of FairExchange, said:

“If I’m thinking about moving house, I can open Rightmove on a Sunday evening and instantly see what’s available. So why, if I’m thinking about buying a business, is it still so difficult to see what’s on the market?”