A: Because they are erroneously advised that they have no alternative.
Just because a business owner wants to achieve some personal liquidity doesn't mean he should lose the opportunity to run his company and share in its financial future. Unfortunately, all too often owners are told exactly that - they must sell their company to meet their objectives, resulting in both a loss of operating control and their opportunity to share in future growth. John Loewen says, "Business owners need to find a partner to guide them towards alternative liquidity solutions that allow business owners to preserve management control and substantial equity ownership."
It may be hard out there but many private equity funds have capital to invest in great companies. Do not think that selling is your first option - it's often the last. J.B. Loewen's book called Money Magnet describes those options in easy terms.