I say 'needlessly' because in many cases all they needed was meaningful business support and advice and they'd still have been a going concern - thriving in many cases
There are regularly far greater business opportunities in times of recession - you just need to know what to look for.
Well meaning institutions offer business support but too many 'advisors' have had no real experience running companies.
There's no worst feeling in the world than being part of a business that isn't reaching its full potential.
Clear thought is stifled when you're battling against the depressing backdrop of falling sales and a failing company.
Often all the business needs is a re-evaluation of its skills and a change of direction as it restructures its business model to offer its services to a different market or sector.
It's also fair to say the lack of meaningful support means a wealth of the region's entrepreneurial talent doesn't even get out of the starting blocks.
I speak from the point of view of someone that was fortunate.
My talent was spotted early on but it wasn't before I'd settled into a very different role.
I started life as a motor mechanic at Kennings on Paternoster Row (the building is now the Showroom Cinema).
I was persuaded to swap my overalls for a two piece suit and that was the start of a career that led to me running my own finance company, Results Financial, with a £3 million turnover.
My success went on to become a blueprint for growth by entrepreneurs worldwide.
I've been that frustrated by the lack of help for businesses, I'm in the process of setting up my own mentoring school, the Results Hub in Woodseats.
My guidance is already making an impact. After only two years, Shalesmoor chef recruitment agency, Chef Results, which places chefs in restaurants, is now turning over £2 million, with just six full time staff.
I also penned international best seller, the 'Entrepreneurs Guide to a Good Night's Sleep', and provide advice through my 'Late Late Breakfast' meetings at the Assay Office in Hillsborough.
Find out how I can improve your business by emailing: firstname.lastname@example.org