When should You Quit a Business

[Shavkat]

It is recommended to quit a business if you have tried several ways to revive it and it isn't working.

It is indeed that it is high time to close down despite several attempts to save the business. Besides, it is the last resort to prevent from drowning with debts. It is also the best time to ask the employees to find their new jobs. This the least thing to be done by the business owners.

 

[Chibson]

I think you can quit the business of you have tried out all that you can do to salvage the business including changing the location, lowering the prices of items among other hustles.

Probably, when you have tried everything you have and the business is not working then you have to try another business line. you can sell that one off to people who may salvage it and make profit.

 

[kirubel]

I think it depends on the person, some peoples struggle much more than others to give up on their business and to quit, but personally if i don't think the business have any future then i will leave it because the more i straggle the more i lose.

 

[nomad]

I will quit the business in two situations, one, I am no longer interested in running it, and two, the business is at a loss and the loss is becoming unbearable for me.

 

[Starmix]

I may quit my busiess if see many competitors are coming. My business is milk tea and this time many are planning to install the same business near my space so customers will be confused

 

[SHAHID987]

Give one year time to do different experiments and changes and improvement. After one year start calculating as how much you are giving rent, what is your electricity bill and other expenses. And what is your per day sale and income. If still you are in minus then immediately close your business as you are not fit for at least this business.

 

[Ratine]

Basically running of business this time around is very challenging so to speak. One should be fully equipped with to succeed

 

[Stardom22]

After one rules out that they have no other option for revamping the business they can decide to either sell or quit

 

[Kera]

The only time you are free to quit a business is when there is no market for that business or you lack the capacity to run the business.