I had started a company in recruitment by saving up a sum of 5 lakhs. At first my business flourished although the profit was not huge I was able to form a good client base and had an office with 10-12 members. But eventually my Marketing wing a lot of clients, didn't make payments even though we worked for them.
We did not receive payments for 4 months from 6 clients. We had already invested the amount in recruitment portals. I did not give up and continued to out my hardwork in recruitment and added few clients where I could generate income. I had raised an invoice of close to 6 lakhs with my new clients. This is when I had to face the pandemic Covid.
Due to Covid lockdown, my clients had to let go of employees and I could not get payments. My parents are senior citizen and I am struggling to take care of them being an MBA graduate and doing business. I have a huge loss of 10 lakhs currently. If I am loan free I can restart my life.