Yes, there are many companies out there that went bankrupt. However, they managed to rescue the company after working hard.
Can you assume a bankrupted business?
- Thread starter Starmix
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Yes, there are many companies out there that went bankrupt. However, they managed to rescue the company after working hard.
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- #42
It's very possible to let that business stand from where it falls thru the initiative of the new or old owners.
Indeed, there were many businesses out there that struggled during the pandemic. However, they managed to gain success after the pandemic ended.
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- #44
Others opted to sell their products online to survive. Life was so hard during the series of lockdowns.
Probably, knowing the exact reason the business failed in the first place is very important. That is the first step towards making it a successful.
Assuming a bankrupt business can be a risky move, as it may have significant financial liabilities and limited resources to turn it around. It's important to thoroughly assess the business, its financial situation, and future potential before making such a decision.
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- #48
You may be right, in my case, I can assume a bankrupted business if I can have a sufficient budget. It is so easy to revive its status. It already has a name and permits.
Yeah, after identifying where the problem is, all you need to do is to pump in some amount of money into it. It is also important to employ the right people.
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- #50
That is so right, we can also invite our family to a joint business revival to gain additional capital from them.
Yeah, if you have some family members who are financially capable and have knowledge about business, it is important to invite them.
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- #52
Our family must know for they can also share important advice with us likewise helping to increase the business capital.
That is very true. letting your family know is important and necessary because they may be able to give you some good advice.
Yes, but what if in a situation where your family members advise you not to take up such a business?. What exactly would you do?.
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- #56
I have to follow my family. I will not give them heart aches because of security matters. That business might be in bad fate.
Okay, that is actually a good one. but sometimes you may be sure of succeeding in the business and your family may be against it.
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- #59
I can assume a bankrupt business if the cause of bankruptcy is mismanagement. It could be restored. It already made a name and it is not hard to invite the previous customers once they see the business rise back
