When should a business be abandoned?

Bisolami · Jan 8, 2023

Shavkat said:
It is high time to abandon the business if it's not profitable anymore. Once bankruptcy declared , there is no need to continue it.

There is more reason I will walk or continue to do a business which is not profitable for me. Once I realise that the business is no more profitable, I will leave to find another one

Stardom22 · Jan 8, 2023

For me a business should never be abandoned. Even if the business constantly makes losses the business owner should find ways to change the business or location of the business.

Bisolami · Jan 8, 2023

Stardom22 said:
For me a business should never be abandoned. Even if the business constantly makes losses the business owner should find ways to change the business or location of the business.

I like your idea but I can abandon a business if I see that it is not going on well and when I strategize very well I will pick it up again. I abandoned my clothing business but I will start very soon

Post automatically merged: Jan 8, 2023

Stardom22 said:
For me a business should never be abandoned. Even if the business constantly makes losses the business owner should find ways to change the business or location of the business.

I like your idea but I can abandon a business if I see that it is not going on well and when I strategize very well I will pick it up again. I abandoned my clothing business but I will start very soon

cherry123 · Jan 8, 2023

relcap23 said:
If after years of operation and one continues to incur losses it's a deciding factor already but sometimes it's hard to let go and severance pay for the workers is still an issue to consider.

Well, if one can't let go then working hard at it will suffice. Just try it out again and again and see how you can salvage it

Niyi Briggs · Jan 8, 2023

I don't believe any business should be abandoned. If it is not working out, you have to come back, restrategize and give it another go.

Bisolami · Jan 9, 2023

cherry123 said:
Well, if one can't let go then working hard at it will suffice. Just try it out again and again and see how you can salvage it

You are very right abut this but you know that there are times when it may feel very tiring to be doing something and your efforts will seem to be futile

Chibson · Jan 9, 2023

Starmix said:
Better sell that business than abandoned to recover a portion of your capital. It's more heartbreaking if abandoned when there's someone who may want to buy and revive it.

I think this is the best option. If you know you cannot manage a business well, it is better for you to sell the business to people who can do that. Abandoning the business will leave you in losses.

freelancermaria · Nov 5, 2024

When your business faces bankruptcy, it’s indispensable to recognize that it may be time to let it go. Although this decision can be hard, it's a reality that you need to accept.

When should a business be abandoned?

Bisolami

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Bisolami

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cherry123

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Niyi Briggs

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