My business partner wants to exit — how do we value the company?

For a profitable 4-year trading SME, three valuation approaches are standard: (1) earnings multiple — typically 3-5x sustainable EBITDA for trading; (2) net-asset value if asset-heavy; (3) DCF if cash flows are predictable 5+ years. Take the highest of approaches (1) and (2). On corporate side: amend MOA and AOA at the Dubai DED to reflect the new shareholding (100% to you), settle his loan account, draft a deed of release + non-compete, and update the trade licence. Total timeline 6-10 weeks; budget AED 30-40k legal + DED + notary.