How to bounce back after a business fails

KIFI

Published November 18, 2021 5:00 AM

By ROSALIE MURPHY of NerdWallet

Many small businesses close within a few years of opening. If that’s true for yours, work with a lawyer or financial adviser to make sure you shut down correctly. Take time to care for yourself and mourn the loss. Then, perform a postmortem to understand what mistakes you made, what resources you lacked and whether you had the right team members. Consider bringing trusted advisers into that process. Once you develop an understanding of what went wrong, you’ll be better prepared to manage risks if you decide to start a business again.

Article Topic Follows: AP National Business

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