Are you retiring or ready to sell your business? Whether you are transferring your business to a family member or moving on to other ventures, you could get a loan to pay for the cost of this transition.
Bankruptcy is a legal process that can provide relief to honest but unfortunate debtors. When you are in bankruptcy, no unsecured creditor can garnishee your wages or initiate any other collection action against you.
If you are planning to close your business, there are a few things you should consider, such as notifying Canada Revenue Agency (CRA), filing a final tax return, paying any outstanding tax amounts, and financing your succession planning.
If you feel that your financial situation is out of control, there are four steps towards financial stability that you can take today. You may find that you are able to resolve the situation yourself through a little (or a lot) of hard work, or you may find that the best course of action is to seek the advice of a professional.