Deciding whether to sell or close your business is a key decision.

There are many reasons to stop operating a business including:

• lack of turnover or profit
• you don’t want to run it anymore
• it no longer fits your lifestyle or personal circumstances
• wanting to do something different.

The size, profitability and structure of your business can also influence your decision whether to close or sell it.

If you plan to sell or close the business consider:

• cancelling your business registrations, including business name and tax registrations
• employees and their entitlements
• lease agreements