Here is the question: What can you do when your small business is in distress? You’ve met with your financial advisor, your accountant and maybe your lawyer.
After reviewing all of your options with these professionals, you’ve landed on bankruptcy as the last resort. And by now, you’ve learned about the Small Business Reorganization Act (the “SBRA”) from SmallBizReorg’s earlier episodes. The SBRA gives small businesses and owners the leverage needed to negotiate and keep your company operating.
Let’s take a look at a few well-known Americans in history who filed bankruptcy and came out on top…
- Milton Hershey… you’ve probably tried his chocolate bar.
- Abraham Lincoln
- P.T. Barnum… maybe you’ve heard of the Barnum & Bailey Circus?
- Walt Disney
And many, many more.
If they could do it, why shouldn’t you? When it comes to considering bankruptcy as an option for your small business, don’t be ashamed and don’t be afraid. Take the actions needed for your family and your employees.
Meet with your advisors and prepare to take the steps that put your business in a financially sound position.
Please contact us at SmallBizReorg if you have any questions.
