- #1
kyphysics
- 676
- 437
I've been reading various estimates on the number of small businesses that would fail due to a lengthy COVID-19/recession period.
One thing I don't get is why they cannot just open a new store/business after that? Is it really that devastating or difficult?
Let's say you open Joe's Taco Diner. You lose sufficient business to have to close. Okay, you lost out. But, I've read in the past that many people who have succeeded greatly in business had many failed first attempts (second, third, etc.). In this case, would it be that hard for Joe to go to a bank and get a loan to open Joe's Taco Cavern a year or two after his diner failed? And, if Joe could do it, wouldn't many others be able to as well?
Isn't it just replacing one restaurant with another one? (same for other businesses)
One thing I don't get is why they cannot just open a new store/business after that? Is it really that devastating or difficult?
Let's say you open Joe's Taco Diner. You lose sufficient business to have to close. Okay, you lost out. But, I've read in the past that many people who have succeeded greatly in business had many failed first attempts (second, third, etc.). In this case, would it be that hard for Joe to go to a bank and get a loan to open Joe's Taco Cavern a year or two after his diner failed? And, if Joe could do it, wouldn't many others be able to as well?
Isn't it just replacing one restaurant with another one? (same for other businesses)