14 May 2025
British entrepreneurs are considering selling their businesses as a result of changes to tax policy and ongoing economic uncertainty.
A survey of 4,000 individuals carried out by bank Brown Shipley revealed that 38% of entrepreneurs are considering selling their business earlier than anticipated due to tax changes announced in the 2024 Autumn Budget.
An additional 44% stated that the recent rise in employer National Insurance contributions (NICs) will adversely affect their business's growth plans.
One in three business owners are also planning to reduce their equity stake but keep ownership of their business in the family.
Simon Smith, Head of Private Banking (South) at Brown Shipley, commented: 'Confidence in the UK market is more fragile than it has been in recent years, and entrepreneurs are taking a pragmatic approach to succession and wealth management. Inheritance Tax (IHT) reform is clearly playing into this too, as founders look at the long-term legacy of their business and how best to secure it for future generations.'