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Sunshine Coast Small Business: A Looming Crisis?
04-12-2014, 07:07 PM,
#6
RE: Sunshine Coast Small Business: A Looming Crisis?
Hey Jimmy,

Sorry for not being able to respond sooner. I was wondering about those 5 businesses that have shut down for good - can you recall what type of business they were; just curious.

As for those businesses on extended leave, I was thinking if you have high overhead and low sales then you likely don’t have staff to cover you if you want to take off on holidays. Or, if you do have any staff, you would they might lay them off while away. Or, if those few months after the New Year are traditionally slow, it might be more cost effective to shut down for those months. Pubs & Restaurants in the Pender Harbour area and north to Earls Cove and Egmont have been doing that for years. They usually begin closing after September and may not open again until mid- May.

There would be no break on your business taxes to the municipality. You would have less income tax to pay at the end of the biz year. No credit card fees to pay but you would still have to pay for the terminal rental if you don’t own it outright and those credit card accounts often have a monthly minimum especially for debit cards . Your bank biz account fees would still need to be paid each month. You would still have to pay your rent, water, min hydro and heating costs, phone bill. I know all about the operation cost of running a small business - the most depressing costs are those banking and credit card fees. So, these businesses must be able to manage on 6- 10 months a year, I guess.

Did you really blush? Blush
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RE: Sunshine Coast Small Business: A Looming Crisis? - by Skook - 04-12-2014, 07:07 PM

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