Many small business suffer during the holiday season and miss out on big revenue from Christmas shoppers. This can be due to many things, the fact that big retailers can afford to run massive sales on black Friday and throughout the months, and also the fact that bigger stores can pay the price for large advertisement spots during the season.
- A course of action is then set in place to shore up the business towards returning to profitability, or to dismantle it in a manner that results in the least fallout possible for the owner and his family and community, if that’s discovered to be the best course of action.
- An uncontrolled business failure can be disastrous for the owner and his or her family, but there is also a wider community impact that can be enormously damaging, said Kruger.
- For this reason, we welcome any business owners who may be struggling, to reach out to us now before the extra pressure of Christmas arrives, said Kruger.
“A failure for any one of these businesses could have devastating effects on the owner, their family, their staff and their creditors.”