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Maturity and Exit

Is your business reaching the point of maturity and exit? If so, our expert articles and blog posts will help guide you through the next stage of your entrepreneurial journey.

What to Expect When Selling Your Business

Maybe your end game has always been focused on selling your business. Or is the pace of running a business becoming too much, and you’re ready to slow down and retire? Perhaps you have a new business idea and you want to sell your business to pursue (and finance) that dream. Whatever your reason for selling your business, your timing is spot-on. According to BizBuySell, an online marketplace for small business buyers and sellers, small businesses are currently selling for record-breaking prices. BizBuySell surveyed 2,300 small business sellers and future business buyers and found sellers can sell for more money because [...]

2018-08-01T08:17:18-07:00 August 1st, 2018|Categories: Maturity and Exit|
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Do You Really Need a Marketing Strategy if You Plan to Sell Your Business?

Getting a business up and running is a huge challenge. Between managing resources and investments, hiring staff, attending to creditors and developing new sales funnels, it’s a tremendous challenge to try and balance everything. A common strategy to try and make things easier is to simply avoid certain aspects of the business. Maybe you can outsource some of the work to an outside firm, or perhaps you can just completely skip over doing something. This becomes especially true when your plan is to sell your business. It’s become common practice these days for people to invest in businesses, [...]

2018-04-12T06:20:34-07:00 May 3rd, 2018|Categories: Maturity and Exit|
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Closing a Business Checklist: Ten Steps From Our Experts

All businesses go through ups and downs, and many will suffer cash flow crises. After some tough times, you may be tempted to walk away from your business - but closing down a business is not a decision that you should make in a fit of frustration. Starting a business is so exciting, but the day-to-day grind of running a small business can wear down even the most intrepid entrepreneur. That said, if you decide this path is the right decision, here is a comprehensive closing a business checklist that will highlight some of the big issues that [...]

2018-02-23T09:07:57-07:00 February 1st, 2018|Categories: Maturity and Exit|
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Dissolve an LLC With These Six Easy Steps

For a variety of reasons, entrepreneurs may decide to close the business they worked so hard to start and grow. Situations change and the need to dissolve an LLC or corporation may need to be addressed. An entrepreneur can grow tired of small business ownership or may simply want to retire. Possibly the business has been losing money or it isn't as profitable as it needs to be. Regardless of the reasons, an LLC needs to be dissolved in a formal and methodical manner. This task doesn't have to feel daunting. Our six easy steps will provide a guide [...]

2018-02-16T09:58:30-07:00 October 31st, 2017|Categories: Maturity and Exit|Tags: , , , |
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Closing Down a Business – The 12 Steps of Corporate Dissolution

You're not the first owner to consider closing down a business and you certainly won't be the last. But it is a big decision and one that should be taken lightly. Regardless of your final decision, you need to prepare yourself for the necessary steps involved in the process. Closing down a business requires a certain process be followed. This process is just as important as the steps required to start a business. I have not failed. I've just found 10,000 ways that won't work. ~ Thomas A Edison 12 Effective Steps for Closing Down a Business 1. Admit [...]

2017-11-13T15:39:34-07:00 October 1st, 2017|Categories: Maturity and Exit|Tags: , , , , |
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What Should You Do If Your Business Is “Inactive”?

Just because you’ve stopped working with customers, taken down your website, and aren’t making money from your business, it doesn’t mean your company is considered “closed.” Closing a business, whether an LLC or corporation, requires formally dissolving it with your state. If you don’t, you could be stuck with the responsibilities of filing your inactive business’s annual reports and state/federal tax returns. And you may be legally obligated to renew your business licenses and permits, too. All of that costs time and money. So if you’ve stopped doing business and are sure you want to retire your company, [...]

2017-12-22T10:46:41-07:00 December 13th, 2016|Categories: Maturity and Exit|Tags: , , |
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Got an Inactive Business? Start Your Dissolution Paperwork to Avoid Penalties

If 2015 brought the end of a business for you, don’t sweep it under the rug. You’ve still got legal responsibilities to handle to avoid penalties and fees.

2018-02-23T07:24:01-07:00 October 29th, 2015|Categories: Maturity and Exit|
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Why an Inactive Business is Costing You Money

Someone once told me that a true sign of a successful entrepreneur is the ability to know when it’s time to throw in the towel and move on. One failed business doesn’t define an entrepreneur. Plus, when one door closes, another usually opens. Closing a business doesn’t just mean selling your assets and calling it a day. You’ve got to go through the requisite steps to ensure your business is legally closed and that you’ve properly wound up your business affairs.  Otherwise, you could be personally responsible for filing annual reports, filing state/federal tax returns, and maintaining miscellaneous [...]

2017-12-20T11:51:46-07:00 August 29th, 2015|Categories: Maturity and Exit|Tags: |
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Closing a Business? 10 Steps to Take Care of When You Dissolve a Business

Sad but true: sometimes a business just doesn’t work out. It might be because the economy is tanked, or because there are cheaper products than yours on the marketplace. It’s better to acknowledge that it’s time to close a business as soon as you realize it than to keep losing money while you try to make it work.

2018-01-11T04:42:24-07:00 June 24th, 2015|Categories: Maturity and Exit|Tags: |
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4 Signs It’s Time to Close Your Business (and How to Do it the Right Way)

If you’ve been toying with the idea of shuttering your business, but haven’t been sure it’s the right thing to do, this post should help you make that decision. And it’s an important one to make now: putting it off until next year could cost you penalties and fees.

2017-11-22T13:11:47-07:00 December 22nd, 2014|Categories: Maturity and Exit|
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When It’s Time to Throw in the Towel

Someone once told me that a true sign of a successful entrepreneur is the ability to know when it’s time to throw in the towel and move on. One failed business doesn’t define an entrepreneur. And the end of one venture means the start of something new. Closing a business doesn’t just mean selling your assets and calling it a day. You’ve got to go through the right steps to ensure your business is legally closed and you’re primed for what’s next. Otherwise, you’ll still be responsible for filing annual reports, filing state/federal tax returns, and keeping up any business licenses.

2018-02-21T09:01:54-07:00 April 10th, 2013|Categories: Maturity and Exit|Tags: , |
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What can Rupert Murdoch teach us about succession planning?

Most small businesses are never going to grow as big as Rupert Murdoch’s News Corporation, and fortunately most businesses will never face such grave and shocking accusations of misconduct as Rupert Murdoch’s company now faces. But no matter what size your company, it’s never too early to start thinking about your firm’s succession plans. Succession planning is a way of ensuring that your company has a bright future even after you’re gone. Ready to start a business and build your own business empire? Talk to CorpNet for a free business consultation on how to incorporate a business. CorpNet’s free tools, advice and guidance can help you choose a business structure, form an LLC, set up an S-Corporation or other corporate entity to protect your assets and attain the corporate tax benefits and financial advantages of doing business as a corporation.

2017-12-20T10:06:52-07:00 May 1st, 2012|Categories: Maturity and Exit|Tags: |
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