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It’s more expensive to close a business than to open one. Simped, The Syndicate of the Micro businesses and small businesses of small port commerce of Sao Paulo, found that of every three small businesses that closes its doors, only one closes officially, because it costs more to close a business than to open it. The president of Simped, Francisco Miele Neto, said that "if opening a business were to cost R$500, if deciding to close, you would be shocked to see that the taxes and fees to close the business would cost around $R 2,000. Miele thinks that when it came time to close a business, the businessman is covered in debt and doesn’t have a way to take responsibility for his debt. Research done by Sebrae confirms the results found by Simped. They also found that between 1990 and 1992, of the 100 businesses opened, 70% closed. High interest and credit restrictions make things complicated for small businesses. |
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