Business Bankruptcy

28 Oct 5 Reasons Every Small Business Owner Needs To Consult With A Bankruptcy Attorney

Dual TrackingDid you ever hear a business owner talking about their Bankruptcy Attorney? Imagine you are at a cocktail party and you hear a small business owner say: "I've got the best Bankruptcy Attorney in town." or " My Bankruptcy Attorney saved me a fortune." This never happens, but it should. Business owners are too busy running their businesses to think about things that have nothing to do with running the business, well almost nothing. When they need advice, they meet with management and accountants rather than a bankruptcy attorney. However, when a business owner is at a cross-road and the you know what hits the fan, guess who they are in a hurry to meet with? That's right, their favorite bankruptcy attorney. I wish more small business owners would make it a priority to discuss their financial issues with a bankruptcy attorney before the fan gets turned on. The way I see it, there are 5 main areas where a bankruptcy attorney can provide support and advice to many small business owners. 1. Cash Flow Analysis 2. Debt Management and Debt Restructuring 3. Credit Issues 4. Collecting Receivables 5. Disaster Planning.
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01 Dec Can I File A Chapter 7 Bankruptcy For My Small Business Only?

The Small Business Entrepreneur: He employes half of all private sector employees, pays 44 percent of total U.S. private payroll, and has generated 65 percent of net new jobs over the past 17 years. The Small Business Administrationestimates that in the year 2009 552,600 new small businesses opened for businessand 660,900 closed, resulting inan annual turnover of about 10 percent. For small businesses that were owner operated with no additional employees,the turnover rates three times as high as for those with employees.
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12 Sep Chapter 11 Bankruptcy: The Good, the Bad, and the Ugly for Small Business

Chapter11bankruptcies for big companies make big news. There is theChrysler Chapter11, which is pretty much considered a success. There is the GM case, which is a bit more equivocal. And there are the perpetual airlineChapter11s. What you don't hear a lot about are small businessChapter11s. They...

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