Should i close business

Discussion in 'Starting a Business' started by Waqas, May 23, 2021.

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Continue business or job

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  1. Waqas

    Waqas
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    Hi, I am struggling with a right decision of business or job so need advice, below is the situation

    i started my web and apps development business 2 years ago in Dubai, it was on small scale with no marketing i secured projects myself and then started building development team and business was able to meet its expenses plus my personal expenses all this time with slight ups and downs at times. I was not mainly investing anything in marketing was only getting projects from market through cold calling etc, i had development team but no sales team

    however recently in past 3 months all my project payments got stuck in the market and expenses pilled up such as development team salaries etc. currently company is in debt of 2 months of team salary, team has been fired for now but need to clear dues

    if i get all my payments released from market all dues will be cleared plus i will have enough to survive for 3 months personally but will have to move my business model from employees to freelancing.

    if i try i can rebuild by getting more projects and slowly building team again as i did the same when i started the company but obviously it involves risk as i have no marketing budget so will be using other lead generation sources and if i do not get project in 2 months i will run out of personal expenses too.

    at this time i am getting a very great job offer

    so i need advice about should i accept job offer for a year and then start work again with capital or should i try till last attempt to run business now.
     
  2. adi20

    adi20
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    You can borrow money from a friend if you have such friend, then clear your dues and try to invest in marketing your projects. Side by side you can do job as well.
     
  3. Jessica Herron

    Jessica Herron
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    If you think you can run the business then go for it. there are lot of risks in business but lot of money. You should borrow money or get money from other sources and clear your dues. And if you can't take a chance for risk or if you can't bare any burden the go for ob. because health first.
     

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