One of the Seven Habits of Highly Effective People is to begin with the end in mind. It’s never too early to look at options.
Business succession planning is a long-term process and not an event. It is a topic that most business owners don’t think about until some life event occurs. Preparing a succession plan can ensure the right people take over your business, operations continue to run smoothly, and owners are able to exit under fair circumstances. The WV Small Business Development Center can guide you through building a succession plan, selling your business, acquiring a new one or developing an exit strategy.
- Deciding When and Whether to Sell Your Business (NOLO)
- How to Create a Business Succession Plan (Investopedia)
- Plan Your Exit (SBA)
- Putting Value on Your Business (SCORE)
Dissolve Your Business
The West Virginia Secretary of State Office provides a business dissolution online service to help with your official administrative filing with that office. You can also call them at (304) 558-8000. They will help you through the various forms and filings it will take including assistance with the Tax Department and the Department of Labor.