What happens to my business if I get hit by a bus?
By Greg Hamlyn, Business Exit Ready. Updated 12 November 2026.
Short answer
If the business runs through you, it can stop when you do. Customers drift off, the team doesn't know what to do, and your family is left trying to sort it out. A few simple steps now stop that from happening.
The questions to ask today
- Who would price and win the next job?
- Who holds the licence the work needs?
- Who can get into the bank accounts, the software and the supplier accounts?
- Who knows what you've promised your big customers?
- Does anyone else understand the numbers?
If the answer to most of these is "only me", the business is at risk. So is everything you've built for your family.
What to do about it
- Write down how the main jobs get done. Start with quoting and the money.
- Make a list of every account and who can get into it. Keep it somewhere safe that someone you trust can reach.
- Get a second person who can make decisions when you're not there.
- Check who holds the licences, and what happens if you're not around.
- Talk to your accountant, lawyer and insurance adviser about what's set up if you can't work.
It's the same work as getting exit ready
The steps that protect your family if something happens to you are the same steps that make the business worth more to a buyer. Either way, you win.
Questions owners ask
- Is this only about a sudden accident?
- No. It covers illness, a family matter, or just the day you decide you've had enough. Anything that stops you working tomorrow.
- Do I need insurance for this?
- Some owners have cover for this. That's a question for a licensed insurance adviser. I don't give insurance advice.
General information only, not financial, tax or legal advice. Get advice for your own situation from your accountant, lawyer or broker.