When you are ready to retire and run off into the sunset, your business will have three possible outcomes: Going out of business, transferring to heirs/employees, or being merged/sold to a buyer. Going out of business at best yields liquidation value for the business, which is usually pennies on the dollar.  The upside to going out of business, is that you won’t incur any future liabilities in warranties, employer obligations etc.  Though it isn’t much of … Read entire article »