When Closing Down A Business Is Necessary

Closing Down A BusinessClosing down a business is never pleasant, but there are times when it will become necessary. This type of business dissolution discussed here applies to a business that is solvent, but must close. The circumstances that would bring this about are often due to the retirement, incapacitation or death of one of the business principles, and the business cannot continue without this individual, their skill-set and their knowledge. Essentially the business was dependent on this one individual, and now cannot continue.

Process
You can address closing down a business in two ways, either hire a professional company to come in and do the work for you, or get prepared to do the work yourself.
Here are a few of the things you are going to need to accomplish during the process of closing down the business:

(more…)