If you have 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.
Take the time up front to understand the process for exiting or closing your business and develop a strategy that fits your business and personal goals.
Whether for good or bad, eventually nearly every business comes to an end.
Tips, techniques, and legal issues involved with transferring all or part of your business to a new owner, partner, or family member.
How and when to sell your business and maximize your benefits from the sale.
Tax and legal processes that may be necessary to legally close a business enterprise.
Bankruptcy doesn't always mean the end of your business; sometimes, it's the only way to save it.