I have a small biz (since 1979). Gross billings up to 2008 used to be in the $420K range. Had enough to hire subcontractors, cleaning people, services, etc. In 2009 biz dropped by 62% in that year. Had to cut all subs, services, overhead, etc as much as we could and keep the biz going.
Subsequently, 2 of my subs have lost their homes in 2011. It is a shame since we had paid them a very good salary.
This past year was our worst gross billing year: $103K. It has been terrible. Now we just make enough to pay the bills and buy food. And unfortunately we don’t see it coming back at all.
Sorry for your pain.
Unless ACA and other new regulations / higher taxes in the pipeline are stopped and reversed, it is going to get even worse in the coming years.