Starting anew

Hello everyone, my problem is a bit on the monetary side. So the business hasn't been going well since we've suffered some damages to our business concerning potential and formerly frequent customers... the expenses now outweigh the income so they took me aside and told me that we have to switch to another business. The problem is, in the city I currently live in, people are starting to move away and in a few years tops (2 years) I'll move away too. Is it advisable to still start a new business now despite the situation? Should we wait until after transferring?

so not a whole lot of info here. You have a money question. A business is going bad, your "why" is a little sketchy, you suffered damages because of potential customers and frequent customers that I am guessing are no longer frequent. So you have to switch to another business. What kind of business were you in and what kind of business are you looking to switch too? Are you investing your money into this business? Who will run the business when you move? It takes a few years to get a business off the ground and to become profitable. Two years is not enough time to do that. Why would you want to start a business in a city that is drying up anyway. This is hard to advise on with such little info.

Under such circumstances its best to look out for a job. If you want to still do business, have you considered re-looking into the business? New offers, more marketing, introduce newer products etc.?

I apologize for the lack of information, I cannot really go into detail on what the business is, but it's selling things that aren't of necessity to anyone, like knickknack's for example, it's buying from a supplier and selling here. The damages sustained by our customers is that they are are suffering financially (yes, majority of them for reasons I can't disclose) and therefore they must focus on necessities such as food and also those who buy from us for business purposes, they must be suffering from the same problem on their area, either way, customers are scarce. Yes, my parents are the owner of the business and I am the child so I am still studying, hence why we cannot move until after 2 years. We are looking to switch to a manufacturing business, they already have connections to people who can help them with this. But the idea of switching business at a time like this and knowing that we won't be staying here long is where we are still unsure about.

Sounds difficult. The sun will come out eventually. God bless.

Thank you everyone, we have decided to push through with the business and have already made arrangements with a few more things to finish up before actually starting and in a few years we might sell or keep it running even if we're not physically there to maintain the business. Thank you again.