How long does it take to buy or sell a small business in British Columbia?

This answer covers the law of British Columbia.

It depends on the deal, so there is no single answer. The pace turns on how complicated the business is, how the sale is structured, how the buyer is financing it and how many outside approvals are needed.

The stages are usually a letter of intent, due diligence, financing, third-party consents and closing, and delays can arise at any of them. A liquor licence transfer starts with the seller submitting the buyer's details in the portal, then the buyer needs a Business Number and Business BCeID, and submits the Personal History Summary form (LCRB004), a sample sign, any other required documents and a $330 fee, and the seller stays responsible until the LCRB says the application is administratively complete. An expired licence cannot be transferred. A franchise buyer generally must receive the disclosure document at least 14 days before signing or paying, though a franchisee selling for its own account can be exempt if the sale is not effected through the franchisor.

Lease consent is another common wait, since the lease terms and case law, not a general statute, govern when a landlord may refuse. Buyers should also ask for a PST clearance certificate, which needs the collector's consent. Ask a lawyer to map a realistic schedule for your deal.