If an owner feels that she or he should stop working the business, the one actual different to liquidation is to promote the enterprise. Sales could have been slipping; profits could have disappeared; but when there may be still “life” in the enterprise, it may well be attainable to promote it—and at a price higher than liquidation will assure. For particulars on selling a enterprise, see the entry Selling a Business in this volume. For a failing business the route most likely to achieve success will contain letting the new owner repay the acquisition worth over time—with the present proprietor continuing to share the risk with the new owner up to some extent. The greatest of these takes place when the proprietor decides to exit of business whereas nonetheless solvent and ready, after liquidation, to pay off all excellent debt.
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