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Are you sure to exit a business?

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At some point in time, you may wish to exit the business voluntarily or otherwise. There are several ways of exiting the business namely:

  • Selling off the business to another person / shareholder or company
  • Passing down the business to your children
  • Voluntary winding up of the business through liquidation of assets
  • Creditors’ petition to wind up the company when the company is unable to pay off its business

You may wish to consult a legal practitioner or a practising accountant if you decide to exit the business :

  • when you wish to dispose of / sell off the shares in your company to another party; or
  • if faced with a legal action to wind up your company; or
  • if you are being sued for bankruptcy for your business debts.
 
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