Exit your business
Last updated on January 21, 2026Learn the legal and financial requirements when you close, sell or hand off your business.
Talk to a chartered professional accountant
It’s important to make sure your documents are filed correctly and to understand your tax implications. Seek advice from an accountant when closing a business to help you with any debts, assets, inventory and taxes owing.
Selling or handing off your business
Make a plan to sell or hand off your business to someone else.
- Get help with succession planning for rural-based businesses through Community Futures
Closing your business
There are many things to consider when closing your business.
- Learn how to dissolve your corporation
Dissolve or cancel registration in B.C.
Find out how to make changes to your business depending on the business type:
Close your business with the federal government
The Government of Canada guides for dissolving your corporation will help you identify the process for dissolution based on your corporation's type and situation.
Declaring bankruptcy
Bankruptcy should be a last resort. If you are thinking about bankruptcy, the Government of Canada’s Office of the Superintendent of Bankruptcy has tools and information to help. This office manages the Bankruptcy and Insolvency Act.
Explore alternatives
Use the Debt Solutions Portal to explore other options, compare solutions and find professional help.