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This article is originally posted on Sigue

How to Keep a Failed Business from Getting in the Way of Your Future Success

Companies large and small are struggling in this age of COVID. In Chicago alone, an estimated 4,000 small businesses have shuttered.

When you started your business, you probably didn’t think about its end. The first few months, years, or decades, your focus was likely growing your sales, developing new products or services, and building your reputation in the community. But, at some point, you may start wondering if it’s time to sell.

Have your sales dived during COVID? You wouldn’t be alone - many small businesses have struggled with the abrupt shift in our economy.

For many small businesses, operating under ordinary conditions is hard enough when it comes to maintaining cash flow, especially for small businesses.  However, when you toss in a pandemic on top of the usual obstacles that appear, the situation may feel overwhelming.  Yet, despite the vast majority of small businesses in the U.S.

As a small business owner, you know all too well that it is important to keep track of every dollar.  Along with paying any employees you may have, you also must have money available to purchase new equipment, pay for insurance, make improvements to your building when needed and so forth.  Unfortunately, there are almost always times when unexpe

Gone are the days when you had to drive to the bank to do a single transaction. Research has shown that more than half of the adults in the U.S. bank online, while about a third bank using cell phones. You can do almost all transactions through the convenience of your phone or your desktop.

In what most of us would call a normal world, bankruptcies are filed each day. However, during these times when more and more people are dealing with the financial fallout associated with COVID-19, it is estimated that numerous individuals and businesses will be filing for bankruptcy in the months and years ahead.

Charging it has become part of the American way of life. Whether it’s because they want to delay payments, don’t have the money currently, or simply want the convenience, consumers expect to be able to pay their bills with plastic. For a small business owner, this can present a challenge.