Yes, that’s usually what happens if they don’t have family to take over the business or employees to sell the business too.
>business owners just wouldn’t start businesses.
Maybe in the VC world but those aren’t small businesses are they? Are people really starting restaurants and yarn shops solely so they can sell the business later down the road? Or is it because they have an entrepreneurial spirit and want to build a business the community is lacking in.
It’s hard to believe you honestly think people only start businesses so they can sell it later on.
> Yes, that’s usually what happens if they don’t have family to take over the business or employees to sell the business too.
No, believe it or not, most people with small businesses, which are worth hundreds of thousands or single digit millions of dollars, don't just let the asset disappear for no value when they can find a broker and sell it.
> Maybe in the VC world but those aren’t small businesses are they?
What are you talking about? The first sentence of my post that you're responding to literally says "mom and pop hardware store" - where do you see anything about VC funding?
> It’s hard to believe you honestly think people only start businesses so they can sell it later on.
At no point did I say that. I would wager heavily that you've never owned a small business.
Most people don't start businesses for the sole purpose of selling them, but the fact that you can sell your business is important for all kinds of reasons. Businesses generally require startup capital, much of which is provided by small business loans that the owner must personally guarantee. If you're not allowed to sell your business, you're trapped under those loans. Need to move somewhere? You can't. Want to get out and get a job? You can't.
Think of it like buying a house. If you couldn't sell a house, how do you think that would affect the market? I'll tell you how - more people would rent, because otherwise most of them would be trapped in their home for the life of the mortgage. Does that mean that most people buy homes solely so they can sell them later down the road? It does not.
Yes, that’s usually what happens if they don’t have family to take over the business or employees to sell the business too.
>business owners just wouldn’t start businesses.
Maybe in the VC world but those aren’t small businesses are they? Are people really starting restaurants and yarn shops solely so they can sell the business later down the road? Or is it because they have an entrepreneurial spirit and want to build a business the community is lacking in.
It’s hard to believe you honestly think people only start businesses so they can sell it later on.