Small Business

Oct 28, 2020
35
12
8
Toronto
Well, I had a restaurant in a small city near LA, but because of the covid 19 pandemic threat, I had to close it. It was too pricey to maintain my restaurant open during this period of time because within a week I could have from 10 up to 20 customers If to compare with the period before the virus when I had more than 40 customers per day. That is why I decided to close my business, happily, I found some good insolvency specialists from https://www.antonybatty.com that helped me with the liquidation process, for a pretty decent sum of money.
 
Last edited:

r32

Administrator
Staff member
Apr 1, 2005
17,936
9,460
113
Cambria
Was reading a biz article on restaurants the other day. Staggering numbers how many have closed permanently due to covid. Especially painful for those new owners who just opened prior to covid stuff, and borrowed money to chase that dream.
 

GromsDad

Duke status
Jan 21, 2014
54,146
16,168
113
West of the Atlantic. East of the ICW.
Was reading a biz article on restaurants the other day. Staggering numbers how many have closed permanently due to covid. Especially painful for those new owners who just opened prior to covid stuff, and borrowed money to chase that dream.
I had a client set up in a brand new restaurant in Philadelphia a short walk from Independence Hall about 10 months before Covid. Guy did everything right except the timing. Killer location and great marketing. Done.
 

racer1

Tom Curren status
Apr 16, 2014
12,920
14,981
113
Honolulu, Hawaii
Small business owner here. Doing ok. What ticks me off is that our Governor finally announced furloughs yesterday and it's for State employees to have to take 2 unpaid days off each month. I'm getting a government job after this.

I honestly think American government doesn't want you to be an entrepreneur / small business owner. All the taxes, medical insurance, general insurance, licensing, etc.
 

gbg

Miki Dora status
Jan 22, 2006
3,866
3,378
113
Small business owner here. Doing ok. What ticks me off is that our Governor finally announced furloughs yesterday and it's for State employees to have to take 2 unpaid days off each month. I'm getting a government job after this.

I honestly think American government doesn't want you to be an entrepreneur / small business owner. All the taxes, medical insurance, general insurance, licensing, etc.
Federal Government jobs are hard to get. Most jobs require you to already be a federal employee. They like recruiting from the shallow gene pool.
 
  • Haha
Reactions: LifeOnMars

billypilgrim

Nep status
Apr 19, 2017
660
1,192
93
Lotta restaurants have shut down around my neighborhood. My good friend from Florida was living out of his car for a while help keep him and his dad's restaurant going.
 
  • Sad
Reactions: the janitor

youcantbeserious

Billy Hamilton status
Oct 29, 2020
1,518
4,579
113
Location location
Small business owner here. Doing ok. What ticks me off is that our Governor finally announced furloughs yesterday and it's for State employees to have to take 2 unpaid days off each month. I'm getting a government job after this.

I honestly think American government doesn't want you to be an entrepreneur / small business owner. All the taxes, medical insurance, general insurance, licensing, etc.
It's way easier in all the shitty places to live.
 

Bayview

Billy Hamilton status
Dec 21, 2009
1,667
1,098
113
NJ
We're 9 months into a pandemic and they only have to take 2 days off a month (10% pay cut)??
sure. Why not. funded by tax dollars. Who cares, it’s all Monopoly money.

wife owns small business. Food industry. Operates multiple store fronts in nj and pa. Paid 100% of health benefits. Retirement. etc etc. tried to do the right thing. empolyees are a partner in the family and were respected in that spirit. Want everyone to be prosperous.

No more reserves, no more cash. All gone. over a decade To get here, gone. Wolf just said to close down for 3 weeks. most likely looking to find the final nail in the coffin.

kick in the nuts while we’re already down.
 

GromsDad

Duke status
Jan 21, 2014
54,146
16,168
113
West of the Atlantic. East of the ICW.
sure. Why not. funded by tax dollars. Who cares, it’s all Monopoly money.

wife owns small business. Food industry. Operates multiple store fronts in nj and pa. Paid 100% of health benefits. Retirement. etc etc. tried to do the right thing. empolyees are a partner in the family and were respected in that spirit. Want everyone to be prosperous.

No more reserves, no more cash. All gone. over a decade To get here, gone. Wolf just said to close down for 3 weeks. most likely looking to find the final nail in the coffin.

kick in the nuts while we’re already down.
Wolff is now officially the worst governor in the United States. Doing what he just did seals the deal. To close everyone down in a state as large and diverse as PA is just assanine. What he thinks may be right for Philadelphia is not what's right for Carlisle, Montrose or Clearfield.
 
Oct 28, 2020
35
12
8
Toronto
Ahh! Business is always a good idea. Believe me or not, I actually think that it's better to start a business and to think about its growing and all that things, than to already have a successful one. I bet you understand. It's like, let me say, first love. You enjoy those moments before you go to a date, that excitement. One thing I can tell you about your future business. Never, I’ll say it again, never underestimate marketing. A good place like https://raincityseo.com/product/website-traffic-2/ or others like that can play a very important role in your career of a businessman. Just don’t be afraid, money spent on marketing are not spent at all!
 
Last edited:

JBerry

Billy Hamilton status
Dec 8, 2017
1,602
872
113
I believe the same thing is happening here in the states as well.

 
Oct 28, 2020
28
7
8
Chicago
It means you are lucky. I have a lot of friends that were supposed to close their businesses because of the covid 19 pandemic threat. Unfortunately, not everyone was able to apply for the Payroll Protection Program, and even those who didn't get enough money to support their business. A lot of them just sold their businesses and started investing in stocks. As it seems, slowly but things are getting better, hope we'll pass this pandemic threat as soon as possible.
 
Last edited:

Leaverite

Rabbitt Bartholomew status
Dec 19, 2017
7,924
1,092
113
Central Cal
Our California governor's businesses have been first in line for these loans. 2.4 million awarded under the PP plan for his management team. Something like 14 employees??? The math I saw worked out to an average salary of $160K a year......

His winerey, the Plumpjack restaurants in SF and Squaw Valley.... I
 

JBerry

Billy Hamilton status
Dec 8, 2017
1,602
872
113
My business down about 35-40% for 2020. sucks big time, coming off my best year 2019.
Anyhow, 2nd round PPP just started, I'm getting in line.
Anyone else?
 

Bayview

Billy Hamilton status
Dec 21, 2009
1,667
1,098
113
NJ
My business down about 35-40% for 2020. sucks big time, coming off my best year 2019.
Anyhow, 2nd round PPP just started, I'm getting in line.
Anyone else?
My wife’s is similar. Some stores up. Many stores down.
Yep to PPP, appears a bit more organized and streamlined this time around.
 
  • Like
Reactions: JBerry

PJ

Gerry Lopez status
Jan 27, 2002
1,022
733
113
Shrub Oak,N.Y.,USA
We received notice that our first loan was forgiven - we just applied for the second round. Our billings were down 30 - 45% for parts of 2020 but we kept everyone working. Didn't raise any pricing this year, gave a bit more in donations to the private schools and other heavily impacted customers we work with, gave 2015 pricing on a service contract to a hospitality industry customer. We're doing OK though, we're building construction and service related - even the mostly empty buildings still need service. Was talking to a building manager who works close to the big bronze bull near Wall Street. He said its been surreal, so few people about down there, so few in his building day to day.

I have a good Wall Street Story. Right after 9/11 they got generators powering the stock exchange, etc. right away. My cousin Johnny who works for Cat Diesel's engine shop rebuilding engines (and whole vehicles) was in charge of a 1 Megawatt tractor trailer sized generator on Broadway close to the bronze bull. There were porta-potties but he longed for a real bathroom. So he asked the guard at the door of the building he was powering if he could use the facilities. The guard immediately directed him up to an executive washroom on the 1st floor. Johnny said it was wonderful, the white tiles, the near silence - towels laid out attractively - he sat down in blissful repose. Then the lights went out.

He got down to the generator fast. The fuel tanks had external sight glasses for fuel level and the fuel oil truck drivers were instructed to check each sight glass and add fuel if needed. While Johnny was upstairs a driver decided to refill the tank and hit the emergency stop switch, located near the fuel fill, by mistake. The buildings chief engineer came outside and when Johnny asked him if he could shut off the buildings main breakers and then scale them in gradually once the generator was restarted and at speed he said, in no uncertain terms, NO - I need power right now. So Johnny started it. Johnny said "My god that big diesel howled like a banshee - I'd never heard anything like that - but it got right up to 60 cycles in no time - I didn't know you could do that".