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Businesses going bankrupt
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09-22-2012, 04:41 AM
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Dweplyododo
Join Date
Oct 2005
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It's an interesting observation regarding closure of businesses - just a little unclear whether you are referring to business closure by choice, OR if you do strictly mean bankruptcy?
It may seem I am splitting hairs - but my understanding of the two is perhaps a bit specific:
Closure, by choice and doing so with some financial dignity and reparation in tact.
Bankruptcy - financially in despair and having to call in the administrators or declaring bankruptcy due to unpaid bills etc.
Closure is an option, bankruptcy is no option.
For those small businesses facing the choice between closure and bankruptcy, I guess it depends on how quickly the small business owners recognises the financial situation their businesses are in.
The sooner a small business recognises trouble, they have to assess what the pressures are that contribute to their potential downfall.
It could be that situations such as new commercial shopfronts and commercial shopping strips making it hard on small mum-and-dad businesses have changed the consumer traffic.
It might be that the small business owners have not capitalised on the use of the Internet. Without evaluating whether the internet really is vital to your business via ecommerce or catalogue-version, or other ways a business owner can capture web presence, a small business owner can easily be sinking their own hard won success and unfortunately bring on their downfall and closure.
My concern is that many small business owners are unfortunately ignorant of what marketing is. I contribute to a couple of forums and one of the most evident issues is that marketing is confused with advertising.
They also "follow-the-competitor" when it comes to making the decision about marketing. If ABC is doing it, and XYZ are doing it, then 123 has to do it.
I have begun targeting my business marketing expertise toward helping small businesses avoid the administrators - by focusing on essential profit growth without dependence on advertising.
If you know any small businesses that are currently in the "choice" mode where closure could be a potential - rather than where bankruptcy is the only solution - please let me know... or ideally, let them know of me, and I will offer a special deal to 3 small businesses who choose my help.
I don't mean to sound like I am engaging in self-promoting, quite seriously I am interested in helping small businesses become a lasting part of the economy's landscape... shopscape..
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