Businesses are not made to remain the same. They evolve. They encounter market changes and threats. They grow. They shrink. In short, a business is a living entity that needs to be managed accordingly. Consequently, it is the responsibility of the business owner to fuel it with the best resources: Knowledge, Talent and Investments. However, unfortunately, as it can be the case with an evolving entity, things don’t always change for the best. Sometimes, your business needs to be improved to survive and continue to thrive. In some cases, you hit a point where you can’t move your business further. You can face three options: You could sell your business to secure your financial situation. You could try to improve the business with the right decisions and approach. Or you could close down the company. There’s only one thing left to clarify: When is it right to sell, improve or close a business?

Going out of business

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Small Business