Closing or Selling a Business Yellowknife NT

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.

Carron Business Services Ltd
(867) 873-9804
466 Norseman Dr
Yellowknife, NT
 
Stewart Robert Management Consultants
(867) 873-5595
5014 47th St
Yellowknife, NT
 
Northways Consulting
(867) 873-5444
174 Dagenais Dr
Yellowknife, NT
 
Carron Business Services Ltd
(867) 920-4817
Yellowknife, NT
 
Ile Royale Enterprises Ltd
(867) 920-2375
3520 McDonald Dr
Yellowknife, NT
 
R T Associates
(867) 873-8377
Yellowknife, NT
 
Aber Diamonds
(867) 920-4117
Yellowknife, NT
 
Northways Consulting
(867) 873-2384
Yellowknife, NT
 
Engle Robert
(867) 920-7419
Yellowknife, NT
 
Dargo & Associates
(867) 766-2370
Yellowknife, NT
 

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