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Thread: close business

  1. #1
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    close business

    hi
    i am in the towing/ motor industry and need a list of things to do when closing your business.
    Where would I find this?
    Do I need an attorney?
    The reason for closure is that it is time for my partner to go on pension.

  2. #2
    Site Caretaker Dave A's Avatar
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    Interesting question.

    I'd say you need to notify all the various government bodies that you may be registered with that you are ceasing trading (normally giving an effective date).
    If all creditors are paid up, I see no reason why you couldn't just wind up the financial affairs between yourself, your partner and your bookkeeper/accountant. It's only if anyone is not going to get paid in the winding up that you might need an attorney and go through a formal liquidation process.
    The trouble with opportunity is it normally comes dressed up as work.

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    If you have a good thriving business, why dont you try to find a replacement partner

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