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Home Questions

What are legal requirements for closing a business?

Posted by Bizversity

It can be a good idea to get help or advice before you start closing your business. Setting a date to close your business will help you plan properly. There are guidelines provided on government websites that will help you take care of your employees. Next, you need to notify suppliers and customers of your date of closure. Be sure to take the necessary steps to end your lease. Next, you need to sell assets and settle outstanding bills. Follow this up by closing out legal and tax issues. Be sure to keep a record of everything in case you need to reference in future. Last but not least, look after yourself!

 

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