Last time, we discussed why entrepreneurs fail. This article will be a bit heavier but we think it’s important for an entrepreneur to be fully aware of the things around him and how they affect you and your business. You may or may not have heard this but there are plenty of companies and government agencies that aim to help the entrepreneur but what happens when things start to go south for your business. How will they help? WILL they help? Let’s look at the options you have. The typical bodies that are out there to help supposedly are the government, agencies who supposedly support your business, and the bank.
The real score here is that being an entrepreneur, as we’ve mentioned in past articles, is tough. When you’re in trouble, there’s very few that you can turn to. You have to understand that these Business Resources are there to help you start up but should the unfortunate happen and the business you have is in trouble, you need to wake up to the truth that there’s very little help that will be available to you. At the end of the day, these resources are businesses as well and very few will try to help a sinking ship. You may get a lot of training and guidance from the government and from the agencies but, once the business is dying, they will usually start to let you go rather than go full on and support you through it. Banks will also not want to invest in such businesses so getting a loan may be difficult.
This is the reality behind the resources of an entrepreneur. The moral of the story here, however, is simply that business failure is a tough situation to be in. You need to actively find ways to keep your business alive and you can do so by learning all you can about entrepreneurship and be as prepared as you can for all situations that may happen while you go down that path. Keep the business healthy because getting a dying business back up in good condition will be very challenging.
About Brightblue Transition Solutions
Located on Vancouver’s North Shore we are the premier business broker in the lower mainland, contact us if you need any help buying or selling a business in the greater Vancouver or lower mainland areas.
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