Archive for 'Business'

How to Keep Your Small Business out of Bankruptcy

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If you are the owner of a struggling small business, don’t give up hope. The stress can be overwhelming. There are steps you can take to save your business. But, you need to be smart about it. Here are a few tips from our experience over the last 30 years to get you started.

1. Cut your expenses
This may seem obvious, but it must be done wisely. Do a short-term cash flow analysis. Decide what bills you have to pay now, ...

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Small Business Bankruptcy: Facing the Truth about Finances

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Bankruptcy lawyers never cease to be surprised  by the number of struggling small business owners who come to us at the 11th hour seeking help when they finally realize their business is failing. The business owner who doesn’t know where he stands financially because he hasn’t hired a qualified bookeeper usually falls into this category; as does the over-leveraged business owner who has taken on too much debt because they haven’t paid attention to changing market trends.

Waiting until the ...

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Bankruptcy Options for Small Business Owners

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First things first, bankruptcy may NOT be your best option. Bankruptcy lawyers have lots of tools to choose from to help distressed business owners get rid of debt and save their businesses. Small businesses face a broader set of considerations that must be weighted carefully before filing for bankruptcy. The best solution depends on how your business is structured, the amount of assets and debts it has, your specific goals and ...

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