What do you do when your business closes

[DareIsrael]

When your business fails and closes, sometimes it's better to accept the fact that it might be your fault. Think of what made the business to fail and restrategize if you want to continue in that line of business.

Certainly, closing a business can be really tough especially when you have invested so much into it. Sometimes it's the best decision to just close down the business when it's failing already. Restrategize and see how to correct your business mistake

 

[Patrik]

if i believe that my last business was on the right path, i would start it over again, but if it wasn't, i will just move on and think about a better one that's not going to close any soon

 

[Josephjossy]

At first you need to seat down and think about why the business collapsed. You need to think about how you could have prevented it from collapse. Then you now decide wether to reopen the business or to move into another business but you need to make sure that you are capable of managing the new business

 

[Erik4150]

When my business closes down, I will have to salvage what I can from it and move on. I believe that is the best thing to do if I cannot save the business.

 

[Senator]

What do you do when your business closes? You simply pick up yourself and begin planning on starting another one with more knowledge that you've gotten in the past business

 

[Saqibraza]

If you don't show that your business was profitable longer than that, then the IRS can prohibit you from claiming your business losses on your taxes.

 

[Abezol21]

One way to save your business is to reduce or eliminate expenses. Your biggest expense might be your rent, call charges or overheads. So to salvage business from collapse, look inward and cut costs of running your business.

 

[joy101]

Such is life,when a business close one need to plan ahead on how to start another business, because one can't stay without doing nothing, so you need to work hard to start again.

 

[Dowenship]

When a business closes, new opportunities arise. Of course, sometimes we don't want to end up closing shop, but sometimes there's nothing we can do. But, let this be known, it's not a failure to fail a business. It's part of the learning experience and you are bound to find something new down the line.

Just let it be known, don't worry if you encounter a roadblock like this. Time will prevail and you will get through it.

I learnt something recently. I discovered that we tend to get discourage on our first loss but always encourage whenever there's profit no mate how little the profit is we feel like continuity

 

[Good-Person]

You must think why your business got closed and see why you failed. After that you must make a much better plan and use that plan to start a new business if you have money. Usually businesses fail due to a lack of proper planning and wrong strategies. There are also some other reasons like a lack of proper investment, etc.

 

[Alogakho Esson]

I like your ending sentence, time is the true test, if you are able to overcome now, nothing can stop you in the future. Just don't give up.

 

[Good-Person]

I like your ending sentence, time is the true test, if you are able to overcome now, nothing can stop you in the future. Just don't give up.

It's not only about giving up. Running a business also requires proper planning and strategy. Of course motivation is also one of the crucial factors behind running a business successfully. However, motivation is not the only factor. Running a successful business requires managing employee properly, investing your money in the right way, and having patience when it comes to generating profits.

 

[Psalmseen]

When a business closes, it's never the end for the entrepreneur. The fact that it closes doesn't stop you from trying again.. The closure will give you some time to re strategize

 

[Kunkun]

Firstly, you learn from your mistake. Where did things start going wrong, it's like you do an evaluation on the closed business and do better in the next one because one has learnt the hard way

 

[Kingsley]

This is never the end of the world, we must gather ourself together and learn from the errors that made us to fail in the first instance. That will sum up as ourexperience. So with that we will do better next Time.

 

[Cash%]

When your business fails and closes, sometimes it's better to accept the fact that it might be your fault. Think of what made the business to fail and restrategize if you want to continue in that line of business.

Not all business is very easy as you think when restrategising and others , in some business its really not easy to restrategise

 

[Josephjossy]

For a business to collapse is not a very bad thing because it can happen to anybody or any business, but you have to sit down and think about what make the business to collapse. You need to know what to do to avoid such thing happening again next time

 

[Cash%]

For a business to collapse is not a very bad thing because it can happen to anybody or any business, but you have to sit down and think about what make the business to collapse. You need to know what to do to avoid such thing happening again next time

The person needs to settle down to plan the business. If such thing happens again then there might be issue in solving or sorting the business out
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For a business to collapse is not a very bad thing because it can happen to anybody or any business, but you have to sit down and think about what make the business to collapse. You need to know what to do to avoid such thing happening again next time

The person needs to settle down to plan the business. If such thing happens again then there might be issue in solving or sorting the business out

 

[Kingsley]

If this happens as a result of been bankrupt then oneshould summon courage and learn from the past mistakes and errors and try not to allow such to happen again. But if it happens for some other reasons then one should learn from it and move forward.

 

[GIFTMICHAEL]

Their is nothing i can do when my business shuts down. The best is to look alternative to start another. But a determined business owner won't allow his or her business to fall unless it wishes that way.