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    What criteria would you use
    What criteria would you use to decide if you should close down your business? Obviously, it is something to consider if you are not making enough money. What other factors would you take into consideration?


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    #2
    Join Date
    Mar 2014
    Location
    Pretoria, South Africa
    Posts
    31
    Interesting question. I would think that the following factors would play a role:

    - not making a profit
    - making a small profit
    - profits and sales are decreasing monthly
    - above market price offer for the business
    - personal issues e.g. health
    - want to start something else
    - need cash for another opportunity
    - loss of passion and drive

    There are more possible factors but the above are the only ones I can think of right now.


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    I'd only close down my business if I was in desperate need of money, and I don't ever see that happening, because I'm a grinder, and I don't accept failure. If you close down your business, it means you failed, and you didn't do something right. So my advice to anyone that's considering closing down their business is not to give up, and to do what your competition does, and do it better!


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    I think that it totally depends on such situations. The major reason for which I shut down my company will be the case when the liabilities for my companies has increased too much and I am not able to get anything to return to them. Besides this I will also consider in that situation that what is the condition of my product in the market if they are having a low competition, then I will wait for the process of winding up, if it's very high then I will instantly choose the option of winding up.


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    There are several reasons when closing down a business. Aside from not making enough money, there is also the issue with your employees or those you hire. Or your business simply doesn't click and instead of keeping it, it would be better to end it sooner.


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    Reasons for closing down a Business
    Closing down a business is really a tough decision to make. If ever I come to this point these are the questions I will ask myself. An affirmative on almost all the question will signal that maybe it's time to give up and search for greener pastures so to speak.

    1. Unprofitability - in terms of profits, is my company generating more losses and exhausting all my finances? Does the business have more liabilties than assets?

    2. Competition- is the competition so stiff that there is little chance to compete on the grounds that the competition has the biggest share of the pie and customer loyalty in favor of the other cannot be swayed?

    3. Economy- has the economy gone worse, that consumer spending is low and no matter how much you push your products, you cannot generate sales because people don't have the means to buy? Is the economy in recession and your business is the most greatly affected?

    4. Management and staff issues - if you have a business partner are the differences irreconcilable that is exhausting and unhealthy to continue operating the business?

    5. Scarce or Unavailability of resouces- whether is is capital, raw materials, goods, or or labor- a shortage of lack of it will signal that maybe it's time to close down the company.


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    Reasons for closing down a Business
    Closing down a business is really a tough decision to make. If ever I come to this point these are the questions I will ask myself. An affirmative on almost all the question will signal that maybe it's time to give up and search for greener pastures so to speak.

    1. Unprofitability - in terms of profits, is my company generating more losses and exhausting all my finances? Does the business have more liabilties than assets?

    2. Competition- is the competition so stiff that there is little chance to compete on the grounds that the competition has the biggest share of the pie and customer loyalty in favor of the other cannot be swayed?

    3. Economy- has the economy gone worse, that consumer spending is low and no matter how much you push your products, you cannot generate enough sales because people don't have the means to buy? Is the economy in recession and your business is the most greatly affected?

    4. Management and staff issues - if you have a business partner, are the differences irreconcilable, that it becomes exhausting and unhealthy on your part to continue operating the business?

    5. Scarce or Unavailability of resouces- whether is is capital, raw materials, goods, or or labor- a shortage of lack of it will signal that maybe it's time to close down the company.

    6. Health reasons- am I unfit to continue operating my business because my health is threatened? Is my health at stake or am I suffering from an illness that needs a long needed break or rest?


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    For any small business owner, this is perhaps the toughest thing to consider! I think the most important consideration that would result in such a decision is the financial and legal aspects. If you are in a legal tangle or face financial crunches that are unmanageable, then closing the business would perhaps be the only option left.


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    there is an criteria that is if you are not getting profit or getting loss, then you should close and start a new one.


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    The statistics clearly tell us that motorcyclists and pedal cyclists are one of the most vulnerable group of road users in the UK.

    Between 2011 and 2015 there were 1,365 motorbike riders injured in accidents in England and Wales. On average in 2013 there were 6 deaths and 94 serious injures per week invovling motorcyclists*.

    In 2015 18,844 cyclists were injured in reported road accidents**. These figures only include accidents reported to the police. According to The Royal Society for the Prevention of Accidents (RoSPA)***, the number of accidents in which cyclists are injured is significantly higher given many accidents are not reported to the police, even when the cyclist is injured sufficiently enough to require hospital treatment. The figures also exclude cycling accidents that occur away from the road.


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