Posts Tagged 'small business bankruptcy'

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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6 Tips to Help Small Businesses Avoid Bankruptcy

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This article from the New York Times: “I’m Not a Number’s Person” sheds light on two of the biggest pitfalls that small business owners face: 1) Having no accounting skills 2) not hiring a competent accountant to help. Small business owners are often charged with handling all tasks related to the business, including bookkeeping. If you aren’t a numbers person. Hire a certified and educated numbers person to help you.

Here are a few simple ...

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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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