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When to Close a Business in Norway

When-to-Close-a-Business-in-Norway

There are many situations when an entrepreneur must decide to close a company. After a period of success, a particular business idea might not be able anymore to respond to the continuously changing demands of the market. On the other hand, the investor might decide to move further to other business projects and an older enterprise will have to be shut down or sold. Our law firm in Norway can offer you the needed assistance with the legal procedures involved in the closing of a Norwegian company regardless of the reasons for which you took this decision. 
 

The revenues of the company are not sufficient    

If you have opened a company in Norway and the financial indicators show you that your revenues are lower and lower, you may either change your business management or think of closing it down. Depending on the resources that you still have available for investing in the image and development of your business you may either keep your structure or save the remaining money and close the company.
 
If you take the decision of ending the business activity, you need to make a written notification to the Register of Business Enterprises. The meeting of the board is the moment when the company is dissolved and the liquidators are employed to make the inventory of the company including the evidence of your tax payments and the situation of your employment contracts. The following step is the company deregistration with the Brønnøysund Register Centre.
 
Our Norwegian lawyers can explain you in more detail how to determine whether a company with insufficient revenues has no chances of recovery and what is contained in the specific procedure of closing down an enterprise
 

Low interest from the consumer market  

Another case in which a company might be on the verge of closing down is the weak response from the consumers. With inadequate services or with a product offer which is not well adapted to the market, many companies don’t succeed to survive in Norway. Some issues connected to the marketing department might be solved through hiring of new specialized personnel. Our attorneys in Norway can give you more information on the insolvency and bankruptcy code so that you can restructure or dissolve your company.
 
 
Feel free to contact our Norwegian lawyers for detailed and specialized assistance in the closing down of a company.  
 
 

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