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Many people have never heard the term “involuntary bankruptcy.” While filing for bankruptcy isn’t something that any person or company does unless they believe it’s their best or only option for getting out from under crushing debt, the process is still usually...
The terms of a commercial lease protect a landlord’s property and the rights of a business tenant. Both parties have obligations to one another, as clarified in the lease documents. If everyone adheres to the lease, the relationship can be mutually beneficial. The...
Businesses have to find a way to balance the cost of doing business with being able to provide an appropriate cost to businesses. This isn’t always easy, and it’s possible that some unexpected costs may creep up sometimes. Unfortunately, not all companies can...
When many people hear that a business is declaring bankruptcy, they assume that that is the end of the business. It is going under, and it is going to cease operations. They imagine that the business will sell off its inventory and assets, such as equipment and real...
A temporary hardship at a business could theoretically spiral out of control and impact the company's long-term prospects. Business owners and executives trying to correct challenging financial circumstances may eventually determine that a bankruptcy filing is the...
Closing a small business is never easy. Many owners invest years of effort, savings and personal identity into their companies. When financial pressures become overwhelming and recovery feels out of reach, Chapter 7 bankruptcy can seem like a last resort. Learning...
Businesses can run into financial trouble for many reasons. In some cases, there is no real solution other than declaring bankruptcy. This could cause the business to close, such as with Chapter 7 bankruptcy, but it may also allow the business to stay open through a...
Business franchising can offer strong brand recognition and a proven operating model. At the same time, it comes with strict rules and ongoing obligations that can create challenges for franchise owners. When issues arise, it is important to act carefully and with a...
Business owners sometimes find themselves trying to determine what the best business model is for them. Some prefer to start their own company where they have complete creative control and grow it from the ground up. Others decide they want to start a franchise...
Many new business owners need to take out loans just to start the business and get it off the ground. This means that they start with significant financial obligations. There is an inherent risk in taking these on, especially if the business has not proven that it can...