Closing or Winding up a Business

If you've decided to close or wind up your business there are a number of things you'll need to do depending on your business structure. There are some significant differences in what is required by law to wind up a sole trader business, partnership or company.

Closing a sole trader business

A sole trading business is probably the least complicated to close. Read more...

Dissolution of a partnership

Subject to any agreement between the partners, a partnership can be dissolved under the circumstances outlined in the Partnership Act 1985 (WA). Generally, any partner can end the partnership by consent of all the partners, or by any partner giving the appropriate notice in writing to all the other partners. Read more...

Winding up a solvent company

If you plan to wind up a solvent company you will need to deregister with the Australian Securities and Investment Commission (ASIC). Read more...

Closing a business with employees

When ending a business with employees you have certain obligations towards your staff depending on whether you are covered by the federal or state labour relations laws. Read more...

Leasing commercial premises

If you close your business and lease commercial premises, you will need to consider your obligations under the lease. Read more...

Bankruptcy and liquidation

If you can't pay your business debts, and haven't been able to reach an agreement with your creditors, you may decide to go bankrupt. Read more...

Taxation requirements

You have obligations to the Australian Taxation Office (ATO) when you close your business. Read more...

Back to top

What's next...

Back to top

© 2014 Small Business Development Corporation (All Rights Reserved) Home | Privacy | Disclaimer | Copyright