Closing or Changing Business

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Closing or Changing Business

Every aspiring entrepreneur starts a business with dreams of success and growth. But during the whole process of expanding the organization, it is possible that he/she is unable continue the business in a profitable manner on a sustained basis. So it may become necessary for him/her to change the type/form of the business organization. This change may be from a public company to a private company or vice versa.

Even though, changing a business type or winding up a business set up is a negative experience for an entrepreneur, but it releases the resources invested by him/her for more productive and profitable use elsewhere. In other words, it can mean better opportunities and unexplored challenges for him/her. Also, the Government of India has enacted several policies and schemes which not only helps an entrepreneur in easy winding up of a business, but also helps him/her in reinvesting the resources in newer avenues.