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Winding up the company . Dissolution takes place this means that we should stop our trading and operating activities. We will have to follow the Parternership Act 1890:

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Introduction

Task 4 Winding up the company Our business has reached to dissolution because of: * The partnership is no longer profitable, and therefore there is no reason to carry on the business. * We do not want to run the business any more because of circumstances such as exams are coming up therefore they decide to terminate the business. Dissolution takes place this means that we should stop our trading and operating activities. We will have to follow the Parternership Act 1890: The assets are disposed of. What the company owes is given out. The partners are paid their final amounts. Steps to closing my business, by doing the legal documents. 1. Cancel your business registration for the partnership 2. File a last tax return if you have dissolved a corporation 3. Close your payroll accounts When we wind up our business we need to pay back all the debts we incurred to our stakeholders. Winding up costs, expenses and charges We have to pay the wages of liquidator and also any expenses liquidator incurs. Preferential debts This is includes the four months' wages per employee, this only occurs if their wages have not been paid in the period before liquidation. ...read more.

Middle

Reviewing the success of the company When we analyse the success of our enterprise we need to look at how long it took to run the business, what costs were involved, if the product was successful with customers, whether we learned anything from the enterprise, whether the customers used the product by what it was meant to do and what value did the enterprise have on us. This enterprise took us about 9 months to run. This was a long and hard 9 months to run the business. We endured several costs along the way such as purchase of stocks, cost of wages, advertisement, etc. Also, we made lots of profit which is much greater than our costs, so in way the business was successful as we made great profit compared to the costs we endured. Also, judging from the sales we made and customers' reaction our product was a major success in the market, so we as a company were successful. All the stakeholders of the business were happy with our business. Also we were able to accomplish all the objectives we set out to do on time as well, which again is success. ...read more.

Conclusion

I can even send direct mail to regular customers. So I can send direct mail to my target market's regular customers who come to buy my energy drink. This could possibly be a good strategy as you are likely to increase sales as I have send direct mail to people who are likely to buy my product. We could ensure that our public relation with the public is successful, as it is the key to our reputation among the community. We can improve our public relation by for example, making donations to charity; this will improve our public image of our business. So they make more purchases of our product, which eventually increases the profits and sales. We could choose a different product to sell; this is because there wasn't as high demand for energy drinks as we thought there would be. We could even have done some more research on the market before selling the product. This would have helped us a lot as we would have known what we are getting into. We could also have research the markets of several products which we could have done and then choose the best possible product which suits us. ...read more.

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