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Business closure is the term used to refer to when a business ceases operations. While the term is often associated with the failure of a commercial enterprise, businesses may also close because the owners have sold it at a higher value than what they invested in it. Entrepreneurs may close a business for personal reasons, such as retirement or moving into full-time employment themselves.[1]
- ^ Storey, D. J. (2010). Small Business and Entrepreneurship. New York: Financial Times Prentice Hall. p. 161. ISBN 9780273693475.