Along with the start of the business and its exponential growth, business transfer is the third critical point in the company's life cycle. Business transfer is a process in which ownership of an enterprise is transferred to another person or enterprise and continuous of commercial activity of the enterprise is assured. This process has legal, economic, social and emotional implications on the enterprise owner. In particular, psychological barriers and emotional underpinnings are underestimated, which often take away more time than legal and economic issues. Business transfer is usually an once-in-a-lifetime event and it is considered to be a highly emotional event. Given the importance of this event and the impact that a business transfer decision may have on the business and all stakeholders, especially on the family of the business owner, it is worrying that business owners are relatively unfamiliar with the process. Some of the psychological barriers for which reason some entrepreneurs resist or delay business transfer are distrust in the successor, difficulties in choosing a possible successor among their own children and prejudice against succession planning. Given the traits of the entrepreneur/owner and the circumstances of the situation, i.e. subjective experience of the situation, individuals use different ways of coping with psychological barriers in different situations. Some of them are use of emotional support, active coping, turning to religion, denial, etc. The topic of business transfer is especially important in Republic of Croatia because there is lack of system support, insufficient examples of good practice, the complexity of this problem is underestimated and there is a significant number of SMEs that will face the transfer of business in the near future. For that reason, in the empirical part of this paper results of a semi-structured interview with the owner of a small enterprise that is facing the business transfer process are presented.