Use this 10-step guide to close your business as painlessly as possible. If you walk away without fulfilling all the requirements, you risk legal disputes, a tarnished reputation, and unnecessary fees. There’s legal paperwork you need to complete, assets you need to distribute, and employees you need to pay. But closing a business is a bit more complicated than that. If it is time to close your business, you might want to walk away and never look back.
Before taking the steps outlined in this article, take a look at some of these resources to see if there are more options:
If you’re thinking of closing your doors for good, our hearts go out to you. Unfortunately, many of those same businesses don’t have enough of a cash reserve to keep them going without revenue. The coronavirus has forced thousands of businesses across the United States to close their doors temporarily.
