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Antiwork

Should I shut down my business?

I currently run a family business that opened in 1986. My dad was the owner but died in Feb 2020. I've been working here since 2012 and run it. We have 29 employees. I killed myself for 2 years and got 2 PPP loans that 100% went to payroll so I could pay 40 hrs when we were working 20. We pay 12-18 to start but that's not enough. Our COGS have gone up 50% since covid started and obviously our payroll has as well– (48000 to 68000). We used to clear 400 to 500,000 per year in profit. That has gone down to less than 100,000. In our business, a new machine costs 50,000 so we basically have little to no money as back up anymore. The product we sell is a low cost product for restaurants. Should I just shut it down since I can't pay more and…


I currently run a family business that opened in 1986. My dad was the owner but died in Feb 2020. I've been working here since 2012 and run it. We have 29 employees. I killed myself for 2 years and got 2 PPP loans that 100% went to payroll so I could pay 40 hrs when we were working 20. We pay 12-18 to start but that's not enough. Our COGS have gone up 50% since covid started and obviously our payroll has as well– (48000 to 68000). We used to clear 400 to 500,000 per year in profit. That has gone down to less than 100,000. In our business, a new machine costs 50,000 so we basically have little to no money as back up anymore. The product we sell is a low cost product for restaurants. Should I just shut it down since I can't pay more and I can't charge more?

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