Small Business in SEK | Fort Scott Biz

Gregg Motley. President of the Bourbon County Economic Development Council. Submitted photo.

 

It is difficult to run a small business in southeast Kansas, and for that matter, anywhere in rural America and be successful long term. The idea of a business is to create value; a net worth that can be handed down to the next generation or sold at a tidy profit. If your goal is earnings, get a job and work for a business owner, as it is not worth risking the capital and the long hours just to make a wage.

Additionally, it becomes increasingly difficult to create value whenever a population base around a small business is shrinking. I have seen Bourbon County business owners who have been successful over a long period of time try to sell their profitable business, only to learn it has little worth other than the liquidation value of the assets accumulated. Heartbreaking!

Consider these numbers from 2018 of small business loans outstanding (listed by…

Read more…