Eight Things to Consider Before Closing a Business..


by Mr. SAKINA BABWANI

(1) Be clear about how you will pay your liabilities, if any, to creditors.

(2) If you need to file for insolvency, find out how to go about it.

(3) Find out if you have any outstanding tax obligations.

(4) Be prepared to deal with your current clients pending projects.

(5) If you have employees, give them adequate notice and clear their dues.


(6) If you have partners, members & other stakeholders, notify them too.

(7) Review your partnership agreement to ensure that you have met your legal obligations.

(8) Find out if you are entitled to any compensation from other partners or franchiser.


From ET Wealth


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