Closing your Business

Experience shows that winding down a Junior Achievement company takes much longer than you might imagine. Remember to consider other activities such as examinations, holidays, school trips etc. You should begin to wind down the company at least six weeks before your planned liquidation, which is usually the last week before the summer break. Your company must be closed by 31st July.

Checklist

  • Review stock of all surplus materials and attempt to clear by making into products to sell or by selling off the raw materials
  • Run down operations
  • Complete all outstanding orders
  • Return all tools and equipment in good order
  • Collect all outstanding monies
  • Pay Achievers’ wages
  • Pay off all debts (wages and rewards)
  • Prepare proposals for allocation of dividends to Shareholders