During times of crisis, it is difficult to assess the severity of just how much your startup will be affected. I write this toolkit during a time of global crisis, one of the worst pandemics we have seen in the documented modern world, the coronavirus. Left and right, I have seen small businesses and startups struggling to keep their doors open or shutting down completely because they have no way of paying their employees, paying rent on their offices, and no customers paying for their products.
Though some of these problems can only be temporary, they will more often than not have lasting effects on small businesses and startups alike. For this reason, I have decided to add an addendum to this toolkit of how you can approach the question of shutting down your business. In a crisis, it is possible to shut down only temporarily and wait until a crisis has resolved itself before starting up your business again. In some instances however, it is necessary to shut down your business permanently, whether this be in a global crisis or simply a rough patch in your business.