There are two ways of doing it.
Update Business as Inactive: You can update the status of your business to Inactive and add a custom note to share it with the public. Making business inactive will display that note on your business page as well as on your published coupons. You can change the business status to Active, anytime.
Cancel the Subscription: You can cancel the business subscription and yes, you can renew it later anytime. Subscription plans are not prorated. If you decide to cancel your plan only to renew a few days later, you will need to purchase a new subscription plan.