So, you have decided to wind down your business. Not all businesses close due to business failure. Sometimes the owner of a profitable company decides to close the doors. But, whether it’s time for celebration or contemplation, be aware that there is more to closing a business than simply turning off the lights and locking the door.
Avoid the Headaches
What you don’t do when closing your business could have long-term financial impacts, and leave you on the hook for liability down the road. There are legal landmines to navigate with both the entity and your employees when closing shop. Not to mention you want to maximize your proceeds from assets, and minimize your financial obligations.
Too many business owners don’t realize that they are personally on the hook for the company’s financial obligations, and that can be unfortunate. While putting on blinders may initially be a tempting “easy” option, it will catch up with you down the road. Having a professional help wind down your company is well worth the time and investment. If you’ve decided to wind down your business, Flourish can help reduce expenses & liabilities now and in the future.
There is so much more to the process than meets the eye. Have you considered that you may have to deal with government agencies, or licensing and registration agencies? Then you have vendors, customers, service providers. It’s a headache…and if you don’t do it right, today’s headache could become tomorrow’s migraine!
Winding Down a Business? Contact Flourish Today
Having the right help through the process can save you time, money, and future migraines! Conclude your business with a Flourish! As a business consultant, I’ve spent years helping business owners successfully transition to ‘what’s next’. My comprehensive Business Entity Conclusion Package can help you bring your business to an efficient conclusion.