354 – Bad Funding Choices for Small Business with David Barnett

The economic shutdown has been costly for small businesses. If you're an owner concerned about the future health of your business, what should you do? Sell your business? What are your options if you have a lot of business debt? On today's podcast, David Barnett, a business broker, returns to discuss how COVID-19 has impacted small businesses and why some businesses are having a harder time selling than others. He also shares strategies some companies have deployed to stay afloat during the pandemic and advice to avoid bad business funding choices. David also explains the sunk-cost fallacy and recency bias to help you understand whether it's financially worthwhile to maintain your business. Tune in for lots of practical advice!

Related Links:

Debt Traps of Buying a Business with David Barnett: https://www.youtube.com/watch?v=-HbW9ww2BNg

David Barnett's Website: davidcbarnett.com and https://www.investlocalbook.com/

David Barnett on Twitter: https://twitter.com/DBarnettMoncton