For sole proprietorships and other simple business entities (or businesses that have yet to do business), the answer is generally no, as the limited number of assets to divide (and creditors to account for) makes the process relatively simple. In almost every other case, it’s generally wise to at least speak with an attorney and/or an accountant to make sure you’re making the best decision for your specific situation. Because of the significant risks involved (generally in regards to unpaid creditors) it’s smart to take the time to close your business the right way rather than having to face the risk of litigation down the road.