i had the make the hardest decision in my life yesterday and have had to put my business into receivership!! so from 9am monday morning i will have to hand over the keys and walk away from a business i have been involved with for almost 19 years of my 35year life. I started working there at 16 years old and 6 years ago i bought the business. i worked my arse off working 80-100 hours a week with no money for the first 2 years they managed to start paying myself about £100 a week. i had 14 people working for me!! then the down turn happened and things became tight are biggest customer went from orders of 50-80k amonth to almost nothing over night but we had money in the bank no debts we held on for aslong as we could then had to let 9people go things picked up for a little while but we started being squeezed from the bottom up are material prices went up over 150% in 2 years and customers will not take on those sort of price increaces so we had to swallow them but now it has just become to much ive not slept for months the business owed me close to 100k in directors loans which i knew along time ago i would never get it back. so for the first time in my life i will be out of work so i now have to decide if i stay in engineering or try something new??? answers on a post card maked to the loser :) be as honest and harsh as you need to be please
i had the make the hardest decision in my life yesterday and have had to put my business into receivership!! so from 9am monday morning i will have to hand over the keys and walk away from a business i have been involved with for almost 19 years of my 35year life. I started working there at 16 years old and 6 years ago i bought the business. i worked my arse off working 80-100 hours a week with no money for the first 2 years they managed to start paying myself about £100 a week. i had 14 people working for me!! then the down turn happened and things became tight are biggest customer went from orders of 50-80k amonth to almost nothing over night but we had money in the bank no debts we held on for aslong as we could then had to let 9people go things picked up for a little while but we started being squeezed from the bottom up are material prices went up over 150% in 2 years and customers will not take on those sort of price increaces so we had to swallow them but now it has just become to much ive not slept for months the business owed me close to 100k in directors loans which i knew along time ago i would never get it back. so for the first time in my life i will be out of work so i now have to decide if i stay in engineering or try something new??? answers on a post card maked to the loser :) be as honest and harsh as you need to be please