Not all businesses in our region survive.
Not all businesses in our region survive.

Thousands of Grafton businesses shut

CLARENCE Valley businesses do not always boom but one expert says our kids could be the key to turning this around.

McDonald's Shopping World, NAB Maclean, The Hospital Shop, The Bottom Pub (Clarence Hotel) and Sew Excited are among the 1668 businesses that closed during the past four years.

Owners often bite off more than they can chew when investing their time and money into dream enterprises that end in nightmares, Council of Small Business Organisations Australia CEO Peter Strong says.

"Business close down for a range of reasons - one of the big issues is setting up things like coffee shops when there are lots of them already around," Mr Strong said.

"If your business is not viable and you are waiting for things to turn around, you need to swallow your pride and close down.

"A little pain and a little embarrassment are better than bankruptcy."

Mr Strong said would-be entrepreneurs could learn a lot from children who are running little profit-makers while juggling school, sports and socialising with friends.

"There are kids in school who run real businesses - they are not hobbies," he said.

"If we recognise them while in the school system, a good business community will work with them now to help them understand things like cashflow.

"Even kids with behavioural problems can run little businesses and succeed." - NewsRegiona