Business Failure and Bankruptcy

[Starmix]

There are reasons why a certain business failed and was declared bankrupt. Is this intentional or not? There will be factors affecting business failure leading to bankruptcy. Although only very few experienced business failures, the fact remains that it gives frustration on the part of the business owner. Well, we cannot judge them as negligent and abusive, only they knew better than us. But there are possible reasons why businesses big and small failed leading to bankruptcy/ There are businesses that failed in one or few aspects but for a bankrupted business, it means something.

There are reasons cited by experts why a certain business failed and bankrupt. 1. Lack of experience 2. insufficient capital 3. Poor location 5. over investment in fixed assets 6. Poor inventory 7. Personal use of business funds 8. Unexpected growth. 9. Competition and 10. Low sales. It is a must to check the location if the people living there can support your business, if not, it will cause low sales, thus tempting you to use the business funds for your family’s needs.

 

[jetsaints30]

While business failure and bankruptcy can be devastating, it's important to remember that it's just a setback, not a failure.

 

[timewo]

Low sales are a major problem for online businesses in some countries, government agencies are stealing the leads, orders of the business so that they resell the leads to others.

 

[Starmix]

Business failure and bankruptcy cannot be avoided if the owner does not have the right planning or no planning at all,

 

[SHAHID987]

Main reason of business failure is lack of regular capital, as if I had started business with 1000$ and it is the rolling amount which must be remain in business in all the time. When we started using our shop's item for our personal use this capital going down and down and then small business usually collapse.

 

[Starmix]

Main reason of business failure is lack of regular capital, as if I had started business with 1000$ and it is the rolling amount which must be remain in business in all the time. When we started using our shop's item for our personal use this capital going down and down and then small business usually collapse.

Have you revived your business? That was the problem for you were using the items in your shop for personal use, unless you paid them.

 

[uptrendfinancialsignal]

When a business fails that means something is wrong somewhere and you must try as possible to try and locate where the problem is so that you can rectified quickly.

 

[Starmix]

It's not advisable to run a business lacking thorough planning and capital. It must be done first before starting to operate.

 

[flower]

There are some certain circumstances that you cannot control yourself and if such things happen there's absolutely nothing you could do other than to accept it and try and other business.

 

[Shavkat]

At some point, it is the best move to declare bankruptcy. So that they can still save other assets and do not need to pay the people. It is how some companies do.

 

[Starmix]

Declaring a business bankrupt is based on the court's order. The said business also needs protection for the next buyer in case the business owner intends it to be assumed by someone he knew well.

 

[Bisolami]

When a business fails that means something is wrong somewhere and you must try as possible to try and locate where the problem is so that you can rectified quickly.

And that is why it is always good to take a break and know where things are going wrong so that all your money will not finish in the business.

 

[Starmix]

At some point, it is the best move to declare bankruptcy. So that they can still save other assets and do not need to pay the people. It is how some companies do.

That is right, but if the business can be revived, why not do it? It is t easy to start a business, There are permits to comply. To add capital is the best solution or invite a partner to hap you update your products.

 

[cherry123]

While business failure and bankruptcy can be devastating, it's important to remember that it's just a setback, not a failure.

Yes I always believed that a failure shouldn't deter one from doing what the person still intended for the business just learn few lessons and move on to still work on the business

 

[Heatman]

There are reasons why a certain business failed and was declared bankrupt. Is this intentional or not? There will be factors affecting business failure leading to bankruptcy. Although only very few experienced business failures, the fact remains that it gives frustration on the part of the business owner. Well, we cannot judge them as negligent and abusive, only they knew better than us. But there are possible reasons why businesses big and small failed leading to bankruptcy/ There are businesses that failed in one or few aspects but for a bankrupted business, it means something.

There are reasons cited by experts why a certain business failed and bankrupt. 1. Lack of experience 2. insufficient capital 3. Poor location 5. over investment in fixed assets 6. Poor inventory 7. Personal use of business funds 8. Unexpected growth. 9. Competition and 10. Low sales. It is a must to check the location if the people living there can support your business, if not, it will cause low sales, thus tempting you to use the business funds for your family’s needs.

If you lack experience in taking care of your business very well and you should also ensure that you have the capital to hire human resources with experience to run the business for you so that they will do all the work and you will take the profit and be the one to pay them.

 

[Starmix]

If you lack experience in taking care of your business very well and you should also ensure that you have the capital to hire human resources with experience to run the business for you so that they will do all the work and you will take the profit and be the one to pay them.

There are things to consider to avoid business failure that may lead to bankruptcy. There must be ready capital in case business is going down. If lacking knowledge of how to man a business, it is better not to engage with the business.

 

[Heatman]

There are things to consider to avoid business failure that may lead to bankruptcy. There must be ready capital in case business is going down. If lacking knowledge of how to man a business, it is better not to engage with the business.

I don't really think so because you can actually have a business being carried out by people for you and you will be the one to pay them even though you don't have much knowledge in the business as long as you have the capital to hire those that will do it for you it is going to succeed very well.

 

[eldavis]

Most business usually run into bankruptcy and fail simply due to the fact that they have poor management. If the person in charge is not able to manage the resources on ground, it might not be instantly but later on the business is bound to fail.

 

[Heatman]

Most business usually run into bankruptcy and fail simply due to the fact that they have poor management. If the person in charge is not able to manage the resources on ground, it might not be instantly but later on the business is bound to fail.

You are right about poor management being the doom of most businesses which is why you are required to work with the best people for the business so that it will make sure that everything goes very well in the business and not putting around peg in a square hole. It is never going to work.

 

[Starmix]

I don't really think so because you can actually have a business being carried out by people for you and you will be the one to pay them even though you don't have much knowledge in the business as long as you have the capital to hire those that will do it for you it is going to succeed very well.

My milk tea business in the mall has only one employee, my sister. She was trained on how to handle the mixing based on business franchising. I have offline work, so I cannot mange it by myself. I pay my sister weekly.