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Can business difficulties still be "downtime insurance"?

On March 1, the State Council promulgated the Regulations of the People's Republic of China on the Registration and Administration of Market Entities, which for the first time established a system of closure of businesses, allowing market entities to moderately "sleep". Yuhuan took the lead in responding to the call to implement the closure system, providing a buffer option for operators who temporarily encountered difficulties and reducing the maintenance costs of market entities.

Can business difficulties still be "downtime insurance"?

Yuhuanwu Double Shoe Shop is a self-employed person who enjoys the dividends of this policy. Ms. Huang, the operator of Wushuang Shoe Store, has been engaged in the small business of clothing, shoes and hats wholesale and retail, due to the impact of the epidemic, the supply chain is intermittent, the turnover is constantly decreasing, she originally wanted to write off, and then "revitalize" after the market situation improves.

Can business difficulties still be "downtime insurance"?

After the registration of business closure, according to the new regulations, market entities replace the original registered domicile (main business premises, business premises) with the address served by legal documents, which greatly reduces operating costs

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Can business difficulties still be "downtime insurance"?

What is the difference between closing a business and closing a business?

When a business goes out, it is the enterprise that chooses not to operate anymore. When an enterprise ceases to operate, it is necessary to perform a series of procedures such as liquidation and cancellation. If the person in charge of the enterprise wants to set up another business, he must re-register the enterprise and complete the registration procedures.

Closures are different. The closure system makes it clear that if an enterprise has difficulties in operating due to natural disasters, accident disasters, public health events and social security incidents, the enterprise may independently decide to close for a certain period of time, and the maximum period of time shall not exceed three years. That is to say, the closure does not lead to the deregistration of the enterprise, but based on practical considerations, the enterprise can stop business for a certain period of time, but retain the qualifications and resume business after a period of time

At present, Taizhou has opened a green channel for registration of business closures and adopted a ready-to-do system. Businesses only need to submit:

1. Application for Filing of Business Closure of Market Entities.

2. "Commitment to Close for the Record". It can be done on the spot.

Source: Yuhuan Market Supervision

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