Years of work, and you are not sure it is worth it any more
Should I close my business?
What does it actually pay you?
Take what you draw from the business in a year and divide it by the hours you work. Compare that with what you could earn in a job. Many owners have never done this sum, and it changes the conversation either way.
Can it change, and do you want to change it?
Higher prices, a narrower offer, fewer hours, a key hire. Sometimes a business is one or two changes from working. Sometimes the changes are possible but you do not want to make them — that is a valid answer too.
Closing well protects you
Finishing commitments, paying what is owed, dealing with leases, staff and the government properly. How a business is closed affects your finances and reputation afterwards. An accountant and sometimes a lawyer are worth involving.
Selling or handing over instead
A business with steady customers may have value to someone else: a competitor, an employee, a buyer. That is worth checking before simply closing.
Plan the next income first
Know what comes after — a job, a smaller version, something new — and how many months you can cover in between. Closing with the next step lined up is far less stressful.
Questions people ask next
Is closing my business a failure?
No. Choosing to stop something that no longer serves your life is a decision, and often a good one.
What happens to business debt if I close?
It depends on how the business is set up and where you live — some debts may follow you personally. Get professional advice before closing.
Should I try one more year?
If you can name what would be different this year and you can afford the runway, maybe. If nothing would change, another year usually looks like the last one.
Run it against your own numbers
Everything above is the shape of the decision. What it cannot do is use your figures. You narrow four ways out to the one that fits you, then turn it into three moves in the order they work — free, and yours to keep.
Show me which wayFree. No card, and no account to begin.
This is general information about how these decisions work, not financial, legal or tax advice. Check the numbers against your own situation before you act.