- June 17, 2021
- Posted by: Stratford Team
- Category: Business
By Deborah Sweeney
Closing a business requires more than locking the doors and putting up an “out of business” sign.
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The reasons to close a business often vary. Some entrepreneurs do it out of necessity, knowing that the business has simply run its course. Others may choose to close one business in order to start a new venture and to focus their attention on the new endeavor. Amid the Covid-19 pandemic, many small business owners made the decision to close.
Closing a storefront requires more than simply locking the doors and putting up an “out of business” sign on the door. It’s important to properly file a dissolution and dissolve the business with its state of incorporation.
A dissolution is a formal closure of a business with the state. Businesses may be voluntarily or involuntarily dissolved. A voluntary dissolution, for example, is one where a small business owner chooses to dissolve the…
