What are the benefits of liquidation

The relative quiet around New Year (although not New Year’s Eve) is usually a time of personal and professional reflection. 

Looking back at what you’ve achieved or not over the previous 12 months. Checking off progress towards long-standing goals and dreams; reevaluating plans and strategies if they aren’t working and getting you closer to where you want to be. 

It will be a time of even more introspection this year as we move from one decade to another. Where have the previous 10 years gone? More importantly, what are the next 10 going to hold for you?

Visualisation exercises used to be the exclusive preserve of Eastern-influenced mystics with piercing eyes and beards but they can be useful and clarifying to help you ‘see’ your future self and what circumstances you want them to be in.

Just for fun – sit down in a quiet place where you won’t be disturbed for at least five minutes. 

Imagine yourself this time next year sitting down to look back. Imagine the you of five and ten years in the future doing the same thing.  What are they thinking about? 

What successes have they had?   What personal and professional changes did they make to their lives? What does this future look and feel like? Are they enjoying their lives more than you are now? Why?

Come back to November 2019. It might be a bit of a shock, especially if you were somewhere warm or if the future version of you is a bit removed from the current model.  

Have you allowed your ambitions and dreams to drift? Are they still what you once wanted?

In order to progress and grow, sometimes you need to look at where you are and what you’ve got to set down and let go off. 

This includes your business. 

Even if it’s profitable – if it isn’t where you want to be this time in ten years, then maybe taking action now will create the necessary space, momentum and freedom for you to start to move towards your real ambitions.

Benefits of a CVL

Liquidating a company may sound cold and clinical but it’s the quickest and most efficient way of closing down a company which is no longer a going concern, disposing of its assets and settling its affairs. It creates the space for positive action to happen.

The type of liquidation depends on whether the company is solvent or not and how many net assets it has or controls. 

A Creditors Voluntary Liquidation (CVL) is the best method for insolvent companies to close rather than wait for a compulsory liquidation through a winding-up order. 

If the company has less than £25,000 in assets then a relatively straightforward strike-off will be cheaper and quicker than a Members Voluntary Liquidation (MVL) which is the other option. 

You can use our free and easy Voluntary Liquidation Quote generator here – It will give you an estimate on how much it will cost for you to liquidate your business based on your own circumstances. 

We’ve already answered a lot of the other more popular questions about liquidation such as how much it costs, can you reuse the company’s name or premises and what happens to staff and assets right here but if you have any specific questions you can easily get in touch with one of our expert advisors.


What next?

No matter what your ambition, If you want expert business advice and help then you’ll always be able to get in touch with us whenever you want. 

Fortunately we’re living our dream – helping businesses be the most responsible, efficient and profitable versions they can be or freeing up their owners and directors to learn from any missteps and being again even stronger.