Closing or Selling a Business Edmonton AB

Deciding to close or sell a business can be difficult for a business owner. Here are some things to consider, if you're thinking of selling, closing down your business or passing it on to the next generation.

A-Canadian Autobody & Mechanical Centre
(403) 253-0511
6224A 2 St SE
Calgary , AB
 
Direct Route Strategic Comm
(780) 539-7292
9728 Montrose Ave #204
Grande Prairie, AB
 
Phoenician Business Consultants
(780) 437-2354
7104 109 St NW
Edmonton, AB
 
Right Management Consultants
(780) 423-1501
10357 109 St NW
Edmonton, AB
 
Farm Business Consultants
(780) 442-2665
10471 178 St NW
Edmonton, AB
 
Estate & Financial Planning
(780) 539-6232
8222 102A St
Grande Prairie, AB
 
Robert Half International Inc
(780) 425-1616
Edmonton, AB
 
Alberta Business Consultants
(780) 944-1867
12828 109A Ave NW
Edmonton, AB
 
Front Line Business Consultants
(780) 462-4427
Edmonton, AB
 
H S Accounting Tax & Business Consulting
(780) 448-0437
Edmonton, AB
 

Closing or Selling a Business

Provided By:




By Sarah Roger

(NC)-Closing or selling a business can create a sense of loss. You've spent years of hard work and dedication building it up. It can be difficult for a small business owner to decide the correct course.

Here are some things to consider, if you're thinking of selling, closing down your business or passing it on to the next generation:

One: Use the help that is available to you. Take advantage of professional services available. It is possible you will need the knowledge and expertise offered by lawyers, insurance brokers, accountants or bankers.

A call to the Canada-Ontario Business Service Centre will help you find numerous programs and services to help you navigate the process. Specially trained staff can provide for you business information needs in an effective and user-friendly way, and the services are free. For more information on this and other topics, visit www.canadabusiness.ca/ontario or call 1-888-576-4444 (TTY: 1-800-457-8466) weekdays between 8:30 a.m. and 6 p.m. EST.

Two: Do your homework. Investigate the selling prices of similar businesses in your area to provide you with an indication of what you can expect to receive.

Three: Look at all the options. Consider succession planning, with an eye to eventually handing your business over to somebody else. Think of this as the transfer of knowledge, skills, labour, management, control and ownerships of a business between the founder generation and the successor generation.

Maybe you're ready to close down the business altogether. While this may be a shorter process than a sale of your business, you should consult with an expert to help you through the process.

- News Canada