Small business can't survive a sales drop..?

[blackpowder]

One good thing about not traveling is not listening to millionaires whining to people who will never use their capital gains exemption LoL.

[bucket]

Until you have been in retail you have no f'in clue. When no one comes through the door for 2 weeks most will hurt bad, 4 weeks and we are talking liquidation.

Don't think low oil prices, hurting ag and rail blockades haven't impacted small town retail already. Now add this which essentially stops traffic to things like rinks, restaurants, theatres. Malls are vacant.

Some retail stores are sending employees home. Most small businesses work with very small amounts of working capital and have very little to borrow against. Now shock their system with this ... many won't recover.

It's like farming with no owned land.

Sorry yes...I won't argue the statement ...I am in the wholesale business ...

[sumdumguy]

I talked to an employer today whose office of about ten full-time employees and six part-time wonder how to run a skeleton staff with most staff running their households on a month-to-month budget with high expenses and small savings. What a dilemma! Very hard on families and their employers.

[Sheepwheat]

We as farmers often look at folks with a constant, bankable and knowable paycheque with a mite of envy.

But now as these things are up in the air, we need to remember most people rely on two incomes to make a living, and in spite of how things look, are a paycheque away from disaster.

Quite a thing indeed, watching this unfold. We have significant lamb deliveries to the city tomorrow. But with our restaurants closing, the future is debatable in the near term. You just can’t win! The economic uncertainty is scary for most people. Fear feeds fear.

So fellow farmers, be happy you live in the sticks, and be happy for your independence and self reliance these days. It looks like it will come in handy for once.

[LEP]

Sorry yes...I won't argue the statement ...I am in the wholesale business ...

Except when the Black Swan starts laying eggs you can borrow against the equity in your land. A retail business may not be able to borrow to get past this, even a good one.

I was talking to a guy who has as much business in the US as Canada. He has been talking to people in his company and they feel there will likely be more bankruptcies than deaths. Not to downplay the seriousness of the virus. More to relate the seriousness of the effect on all business.

[furrowtickler]

Oldest brother just got laid off from local Ag dealership . Him and 3 others .
We need a guy for spring so we can give him a job for a while . But others may not have options
It’s happening very fast

[15444]

All North American auto makers shutting down until at least end of the month. That is 150,000 direct assembly jobs.

I agree. Bankruptcies and pink slips are going to soar in a couple weeks.

Mennonite couple just came back from Switzerland here few days ago, no quarantining going on there. Very opinionated old couple. Said everybody is a bunch of fools. Nothing more than common cold. Their 3 adult daughters live with them and work in the hospitals and nursing homes. Old lady says if people die from this it is God's will and perfectly alright.

So go suck on that government!

[ajl]

All North American auto makers shutting down until at least end of the month. That is 150,000 direct assembly jobs.

I agree. Bankruptcies and pink slips are going to soar in a couple weeks.

Lol. We were planning a late model new to us vehicle upgrade as the car I use for the off farm job is high mileage. Needless to say that project just got put off for a while longer.

[15444]

Lol. We were planning a late model new to us vehicle upgrade as the car I use for the off farm job is high mileage. Needless to say that project just got put off for a while longer.

I been planning a new vehicle upgrade for couple years, but been waiting for a recession to get best deal. Problem is configuration means it needs to be ordered, so plants have to be open for it to happen. I am hoping dealerships start getting desperate for business a month or two from now.

[woodland]

Oldest brother just got laid off from local Ag dealership . Him and 3 others .
We need a guy for spring so we can give him a job for a while . But others may not have options
It’s happening very fast

Was this related to the virus at all or the fact most dealerships are slow due to pricing themselves (at least for this peasant)out of the market? The last year and a half has had more salesman visits than my dad had since ‘79 when he took over.

Just curious

[furrowtickler]

Was this related to the virus at all or the fact most dealerships are slow due to pricing themselves (at least for this peasant)out of the market? The last year and a half has had more salesman visits than my dad had since ‘79 when he took over.

Just curious

I think it’s the straw that broke the camels back , the push over the edge so to speak.
It’s just starting

[JoeVance]

Who has told you? I mean, if it's properly managed, it will surely survive. Good business assistants and lawyers know how to transform a crisis into success! I am running my business for several years now, and for three of them, I was doing everything on my own. Partially, because I was afraid to delegate duties, and partially because I had no money for a lawyer. Fortunately, now things are simpler. You can simply access a website like https://legaloutsourcingservices.co.uk/ outsourcing legal services and get a lawyer for a good price that is specialized in business and enterprises.