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How to Save a Small Business From Failure
Many people want better economically but are too afraid to take the chance at operating a business. Most of us can’t risk losing money and time in the event that our business operation tanks.
Besides needing the proper research and planning, one of the major causes of small businesses closing is:
cost of rental space
SO HERE’S MY QUESTION AND SOLUTION: WHY ARE YOU RENTING A SPACE?
Why aren’t you OWNING that space?
I am a strong supporter of owning property, whether it be residential or commercial because owning means growth and wealth and progress. It means BUILDING, literally and metaphorically.
Most people that I know (including myself in 2011) who’ve opened businesses could not maintain the cost of managing a home and managing the cost of rent and utilities of the business.
But there is a solution: commercial or mixed-use property.
Many family-owned businesses also double as living space, and why not? It just makes sense.
- You only have one space with expenses,
- You have zero travel time to get to your business, and
