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Plain English Guide to Getting Out of Business - Click To Read Article
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.
Sales Agreement - Click To Read Article
The sales agreement is the key document in buying the business assets or stock of a corporation. It is important to make sure the agreement is accurate and contains all the terms of the purchase. It would be a good idea to have an attorney review this document. It is in this agreement that you should define everything that you intent to purchase of the business, assets, customer lists, intellectual property, and goodwill.
Asset Liquidation - Click To Read Article
Before you terminate your lease, sell a key piece of equipment, or disconnect your utilities, make sure you review this liquidation sale checklist.
Planning Your Exit - Click To Read Article
If you've ever given any serious thought to exiting your business, now is the time to start. 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.
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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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