Saying goodbye to a business feels a lot like saying goodbye to a person or ending a relationship¹. It’s a mix of emotions and practical steps that can be overwhelming. Let’s dive into what it’s really like and how it compares to personal farewells.

¹ Full disclosure: I don’t have a personal experience on this. This is only based on what I’ve heard from friends and movies.

The Emotional Farewell

Closing a business brings a whirlwind of emotions. Just like ending a relationship, you feel a sense of loss and grief. Remember when you had to let go of a dream or a plan that just didn’t work out? It’s kind of like that, but on a bigger scale because it’s something you’ve poured your heart and soul into.

Letting go of YummyTummy.PH was tough. Just like a relationship that has run its course, we probably should have closed it down a few years ago but it was hard because we loved and worked hard for it. I have to honour the wifey for having the courage to do this, as hard as it was.

The Practical Side

Then, there’s the practical stuff. Closing a business isn’t just about the emotions; it’s also about dealing with legal and financial matters, and telling your customers and partners. It’s like when you break up with someone and you have to figure out who gets what and have those tough conversations. Only, in business, there are a lot more people involved and a lot more steps to take.

The closing of YummyTummy’s legal entity, Salvanera Foods, is still in-progress. ⚠️ Warning to small business in the Philippines, the government agencies, especially the DTI and BIR, will make you go through hell when you decide to close your business.

Moving Forward

After closing the business, it’s time to move forward. It’s a lot like healing after a breakup. You reflect, you learn, and eventually, you start something new. Remember how you felt after you moved on from a past relationship and found something even better? That’s what it’s like. Both experiences teach you a lot and open up new opportunities.

We don’t have plans to start anything new yet but we’re definitely open to other opportunities. In the meantime, we’ll focus on other areas of our life here in Canada.

Conclusion

Saying goodbye to a business is tough, blending emotional farewells with practical challenges. But it also brings growth and new beginnings. By finding closure and embracing new possibilities, we can look forward to what the future holds.