HOW TO CLOSE A BUSI­NESS

You’ve DE­CIDED your START-UP has had its day. Now what? Liq­ui­da­tion? Vol­un­tary ad­min­is­tra­tion? Ac­qui­si­tion? We DE­CODE your op­tions.

Collective Hub - - FEATURE - WORDS AMY MOL­LOY

While open­ing a busi­ness can be daunt­ing, clos­ing a busi­ness can be just as over­whelm­ing. It’s not as sim­ple as shut­ting your door and delet­ing your Twit­ter ac­count – there are mul­ti­ple ap­proaches that all have dif­fer­ent out­comes for your com­pany’s fu­ture, and vary­ing im­pacts on your pro­fes­sional ca­reer go­ing for­ward.

As a lawyer, Jeremy Streten, au­thor of the book The Busi­ness Le­gal Life­cy­cle, helps busi­ness own­ers stream­line their exit strate­gies from a le­gal perspective and safe­guard their fu­tures. So, how do you work out what is the best es­cape route for you? Here he breaks down the get-out clauses.

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