Declaring bankruptcy is an option for business owners who are over their heads in debt. In some cases, bankruptcy can create a level of financial freedom by helping to eliminate this debt. But it’s important to remember that all not all bankruptcy filings are the...
Month: June 2023
Are business bankruptcies underreported?
There are many different things that influence why a business goes bankrupt. In some cases, the company’s owner just makes critical mistakes like investing money in ways that don’t get enough return. In other cases, there’s a major event like a financial recession,...
Tips to avoid business succession disputes
Business succession is the process of passing a business on to another owner. For family businesses, this often also means giving that business to the next generation. In some cases, multiple heirs will all be involved. Unfortunately for business owners, the...
What happens to a family business when couples get divorced?
When a couple gets divorced, they need to divide the assets that they own. Often, this means splitting up investments, bank accounts or the family home. But what if the couple have also started a business together? Family businesses are incredibly common. Maybe they...