Plain English Guide to Getting Out of Business
Plain English Guide to Getting Out of Business
If you've never given any serious thought to exiting your business, now is the time. For sole proprietors, getting out of business can be nearly as easy as quitting a job. For most other small business structures, however, exiting is a multi-step process that can take from weeks to years depending on the size of the organization and the reasons for exiting. In most cases, the end goal is to maximize the value of the company and convert that value to cash.
Getting professionals to guide you through the process is highly recommended. Depending on the size and field of your business, some of the professionals you may want to consult include: lawyers, accountants, business brokers, auctioneers, tax experts, bankers, and the IRS. Seek referrals from satisfied customers and trusted business associates.
Another trusted source of help includes SBA-affiliated business counselors in your area from SCORE and Small Business Development Centers (SBDCs).
Plain English Guide to Getting Out of Business - To learn more about this author, visit Exit Strategy 's Website.
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Plain English Guide to Getting Out of Business
If you've never given any serious thought to exiting your business, now is the time. For sole proprietors, getting out of business can be nearly as easy as quitting a job. For most other small business structures, however, exiting is a multi-step process that can take from weeks to years depending on the size of the organization and the reasons for exiting. In most cases, the end goal is to maximize the value of the company and convert that value to cash.
Getting professionals to guide you through the process is highly recommended. Depending on the size and field of your business, some of the professionals you may want to consult include: lawyers, accountants, business brokers, auctioneers, tax experts, bankers, and the IRS. Seek referrals from satisfied customers and trusted business associates.
Another trusted source of help includes SBA-affiliated business counselors in your area from SCORE and Small Business Development Centers (SBDCs).
Plain English Guide to Getting Out of Business - To learn more about this author, visit Exit Strategy 's Website.
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 Plain English Guide to Getting Out of Business
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 Exit Strategy (Visit Exit Strategy's Website) Getting out of your business may not be important to you at this point. However, planning your exit strategy often involves more than just closing down. Within this section we’ll discuss practical options that include selling your business or transferring ownership. In the event that you decide it is time to close your business, you’ll learn about liquidation, filing bankruptcy and reviewing the IRS guide on shutting down.
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