Closing a Business - 101
Closing a business is complex but a necessary process. Reasons behind closing your business- If your business is no longer generating profit or you are facing problems running it, then closing it may be the right choice to make. But this isn’t so easy as it sounds. There are a lot of reasons of closing a business; some of them are listed below: - There is a sudden decrease in demand and the owner is not able to find new clients or markets. - Depending on the business's nature, lack of resources like land, labor, raw materials or financial support/investment, etc. has affected its smooth functioning. - Competition has increased multiple folds, and the owner is not able to keep up. - Uncertainty of the national Economic Growth rate - Company is no more making prof...