When should a business be abandoned?

[cherry123]

Do you think there's a period by which a business should be abandoned. I think when the business is consistently only showing loss such a business should be abandoned. What do you think?

 

[Citrus]

When the profit margins are very low even after year of running the business
Even more would be the trust you have within your product if there is none then its time to close

 

[Bisolami]

Do you think there's a period by which a business should be abandoned. I think when the business is consistently only showing loss such a business should be abandoned. What do you think?

I think a busin should be abandoned when it has gone bankrupt and there is no other means of getting money.

 

[cherry123]

I think a busin should be abandoned when it has gone bankrupt and there is no other means of getting money.

it all comes to money but once money is depreciating I think it is the right time to abandon the business.

 

[Bisolami]

it all comes to money but once money is depreciating I think it is the right time to abandon the business.

That's true. Business is not an easy task. God bless business owners

 

[cherry123]

That's true. Business is not an easy task. God bless business owners

Sure any business that stays afloat financially for 10 years the owner must have done a very good job business need hard work and being smart.

 

[eldavis]

I think when you are at a stage where you are completely sure there is nothing you can do about the business, then that should be the perfect time to try something else.

 

[Springtime]

Businesses consistently making a loss for a long period of time should be abandoned.

 

[Bisolami]

Businesses consistently making a loss for a long period of time should be abandoned.

You are very right but I do not think we should abandon it fully but we can strategize again to know how to run the business

 

[Edulady]

Not abondoned per say buy a pause and a step back. When you started the business you had everything figured out. You had a plan that was airtight and you knew exactly why you had to do to reach the goals you set. Once it gets a bit rough step back and revisit the plans you started with and see where you went wrong and retry

 

[Ebutech]

Do you think there's a period by which a business should be abandoned. I think when the business is consistently only showing loss such a business should be abandoned. What do you think?

Lol, this is a very funny but critical question, for me it depends on the owner of the business, when the owner gives up or is fed up and has nothing again to do, that is when the business automatically abandons it self,well to answer the question I think it is when the business has damaged beyond revival, and when the policy put in place by the authorities or government is no longer favouring the business, thereby making the owner to constant incur losses.

 

[Knowledge Quest]

It really depends on the type of business and situation. If the business is no longer profitable, or the market conditions have changed, then it's probably time to consider abandoning it. However, if there's potential to turn things around, it might be worth giving it another shot. Ultimately, the decision to abandon a business should be based on an honest assessment of the current situation.

 

[Bisolami]

Not abondoned per say buy a pause and a step back. When you started the business you had everything figured out. You had a plan that was airtight and you knew exactly why you had to do to reach the goals you set. Once it gets a bit rough step back and revisit the plans you started with and see where you went wrong and retry

I love the fact that you said we should not abandon it fully but we can just post and take back so that we will be able to strategize again and come back to the business. That's the best

 

[Shavkat]

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

 

[Starmix]

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.

 

[Magnus2022]

Am planning to close down one of my business because of low performance. Secondly, I have found other business alternatives that I will use to make money and have my free time. Why should I stick to non-performing business while there are other promising opportunities elsewhere?

 

[SHAHID987]

I had taken this decision previously so I can better tell that when it should be close. I started a general store and put all my possible efforts in it all possible unique items I put there, even through pamphelets about the products in nearby and little far houses but nothing worked so after 2 years I decided to close it and I started feeling very happy.

 

[hastral45]

A business can be abandoned after all attempts to make it work successful failed. Then there is no point investing in it.

 

[relcap23]

Do you think there's a period by which a business should be abandoned. I think when the business is consistently only showing loss such a business should be abandoned. What do you think?

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.

 

[riberet19]

There may be many reasons, one may not see profit margins, another may be that you are heavily indebted (which should never be done) another may be the lack of passion for your business that has been degraded over time, there may be many factors that lead a business to failure.