The entry discusses the business exit in the context of family firms. Business exit is as important as business entry, but it has received much less attention in management and entrepreneurship in general and family business context in particular. Exiting a business in family firms poses more significant challenges for the owners’ managers because emotional attachment is at the core of family firms. The entry highlights; why exit is vital in family firms, how it happens at different levels, the modes of exit, and the challenges for family owners.