Sending solidarity. I had to wind up my bricks and mortar shop this year after 7 years following being widowed and everything going to shit.
I have few words of wisdom but I truly empathise. It's hard to be detached and business like when you've invested as you say blood sweat and tears into your passion. It's definitely not just the money.
I had to try really hard not to take it personally. Unfortunately the current economic climate makes it difficult to keep up and adapt at the speed required to survive if you are a small concern.
While embracing positivity and being hopeful is always the expectation from those on the outside looking in, sometimes it's almost delusional. My customers were "shocked and saddened" but in my case the lure of Temu etc trumped their loyalty and I absolutely ran out of resources and innovation. I'm currently facing a DRO and have decided that the selling of widgets is no longer viable on a small scale and my future is now in the lap of the Gods I don't even believe in.
I think my only advice would be that if you truly can't see a way forward that doesn't increase your debts etc, then making the decision to wind up does give one a small sense of relief before outside forces make it for you. It may be an illusion of control, but it beats continually battling the storm without an umbrella. So truly think about your well being now. If a miracle occurs so be it, that would be amazing but if your instincts are telling you it's unlikely listen to them.
People don't realise I think how entwined our emotions are with the things we birth and pour our passion into. You will experience a form of grief. You see competitors apparently thriving all over the social media platforms and wonder what you're doing wrong. Often it's nothing, it's just economics and forces beyond our control. And scratching the surface sometimes reveals that those other businesses are also struggling.
It is a form of bravery to accept and draw a line under the whole thing and it's a struggle to realise that while one's feelings are real and valid, the "market" doesn't care about them. So be kind to yourself and give yourself the recognition you are absolutely due for trying - that is a success in itself.
However things go for you, I wish you heartfelt love and hope that whatever happens next is bearable. I truly, truly understand what you're going through, and trite though it may sound, be as kind to yourself as you can xxx