One of the most important lessons I learned at Entrepreneur Works is that a business closing is not necessarily a business failure. With proper planning, a business owner should be able to project where her business is heading and make moves accordingly.
If it’s true that John Doggie's owner simply walked out on the business because he couldn’t take it any more, he’s probably been in trouble for a long time.
Chester is very fortunate to have the Widener Small Business Development Center offering services to local businesses. They are especially good at accessing the current state of your business and giving you the tools to project future growth, or future disaster.
I’ve seen them work with a business lady for a few months, created the financial statements she should have done for 3 prior years, and after it was all said and done, told her to come up with $10,000 or strongly consider closing her business immediately.
Unless you have professionals giving you that tough advice, it’s easy to continue down a black hole until you and your business are totally tapped out. If things are going bad, you can close a business without losing your dignity and all your assets.
Some folks just don’t ask for help. Others don’t know where to find help.
Find Widener SBDC HERE