Remember when everyone had huge houses, new cars, little debt and all kinds of money to pay for all of it? Now what do you think would be the perspective of today from someone that had a life span ending in the 1990’s?
Not to say we are all in a more difficult spot, but every friend I have that owns a business says business is off by about 30%. Many restaurants are shutting down or have owners complaining about the super-high food costs. Not to mention paying sky-high rent on what was once a hot location that’s now not even close to what they should be paying for rent, considering the real estate market crash. What about the people that had Personal Guarantees on their businesses? What is happening to these people after sales slow down drastically and they can’t make their note? Others that have hit hard times are moving back in with their folks to save money, but what are the people doing that are losing their houses with families?
You hear all of these foreclosure numbers and unemployment numbers, but where are the stories of these people’s struggles? What are they doing it to make it?
Let us know what you are doing to survive financially, especially if you are a small business owner.