I learnt this the hard way. There's a significant drop in sales and profit made but an increase in bills paid. Infact, Many SME' seek and depend on loans to stay afloat but the naira's depreciating values, high interest rates plus several other factors makes it difficult for business to stay loan-free. If you find your business in the category of been indebted without any hope of been loan-free, that business will collapse with time, especially with the economic situation of this country.

Goodness91:
I learnt this the hard way. There's a significant drop in sales and profit made but an increase in bills paid. Infact, Many SME' seek and depend on loans to stay afloat but the naira's depreciating values, high interest rates plus several other factors makes it difficult for business to stay loan-free. If you find your business in the category of been indebted without any hope of been loan-free, that business will collapse with time, especially with the economic situation of this country.

It is usually not so easy deciding at what point to sell off or persevere for a little longer. Some businesses make their breakthroughs at the most unexpected times.
Besides how do you sell off a business laden with debts and loans?