Liquidating your


16-Oct-2016 07:51

But even five months can be too long for owners dealing with a change in personal circumstances, a sudden turn of events in the marketplace or a new business opportunity that requires immediate action.Strategies for a Quick Business Exit Typically, a small business owner will start to prepare for a sale months or even years before the desired exit date.The liquidator supervises the liquidation, which involves collecting and realising the company's assets (turning them into cash), discharging the company's liabilities, and distributing any funds left over among the shareholders in accordance with the company's constitution (or the COMPANIES ACT 1993 if there is no constitution).

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Or, maybe it’s just not selling as fast as you’d like, and you’re running out of shelf space for new products. Unless you want to sit on the product until next year, cut the prices to entice bargain-hunters.

You must place a sell order with the broker clearly stating how much stock you want to sell. The final amount of money you receive from the sale is reduced by the transaction and broker fees.

Although you are charged fees for using a broker, it is one of the most straightforward ways to liquidate your stock. Contact other shareholders in the same company directly and offer to sell them your stock.

If you’re using a set price, be sure to research what other sellers are charging for the same product: Online marketplaces offer access to a broad network of customers, but have much heavier competition than selling locally.

It can take some time to market your products online, so consider asking an assistant or intern to photograph the items and list them on your sites of choice.

First, a liquidator is appointed, either by the shareholders or the court.