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Business Bankruptcy Archives

Ohio small business bankruptcy risk caused by unsound loans

Small business owners in Hamilton County could be at risk of a national trend involving business loans. Unless you own a business with a strong, consistent cash flow and years of financial statements to offer to lenders, getting a business loan from a bank can be a daunting experience that frequently ends with a rejection.

Types of bankruptcy for small businesses

The decision to file for bankruptcy is a difficult one, particularly for small business owners. When a business owner does make the decision to declare bankruptcy, the owner must then choose the type of bankruptcy to file. There are a few different types of bankruptcy for businesses, and each type has pros and cons.

Small business bankruptcy lessons from a billionaire

Some people associate business bankruptcy with failure, but this is far from the truth. Donald Trump's net worth has been reported as somewhere between $4.1 billion and $8.7 billion which is hardly a sign of a failure. Yet, Trump, who has never filed for personal bankruptcy, has seen four of his business ventures file for business bankruptcy.

Bankruptcy options for businesses

It's no secret that small businesses often fail. No matter how great of an idea you had, if the community simply is not interested, it can become very difficult to keep the doors open. The end of a business does not have to be the end of you, however. There are options to get a fresh start. Businesses have four different bankruptcy options to settle their debts and move on.

Can I save my business through bankruptcy?

Starting, building and running a business is a continuous act of courage. It takes courage to overcome self-doubt or the doubts of others about your idea. It takes courage to put your money on the line, or possibly even your property as collateral to secure start-up funding. It takes courage to keep going even if the profits do not start rolling in right away. It takes courage to keep from second-guessing the wisdom of your decision to become an entrepreneur.

Will a business bankruptcy force me to close my business?

Hamilton County is like other communities throughout Ohio that depend upon the success of small business owners to keep their economies strong. According to the U.S. Small Business Administration, small businesses are responsible for 54 percent of total sales in the U.S. and 55 percent of the jobs. Cash flow challenges and mounting debt can put a squeeze on the financial stability of even a well-managed company.

Sometimes your business needs an advocate and an ally

Starting a small business is an undertaking like few others. You often hear small business owners refer to their business as, "their baby." The reason for this affectionate characterization is because the business owner spends so much time, money and energy into working towards making the venture a success.

Zales avoids bankruptcy, agrees to be bought by competitor

It is the nature of competitive business that some companies will struggle to run their operations effectively. It is often not enough to simply break even financially, but rather to make enough sales to earn a profit.

Postproduction sound company files for Chapter 11 bankruptcy

Chapter 11 bankruptcy presents businesses in Ohio and elsewhere with a unique opportunity to rebalance their assets and reorganize their debts. Like other types of bankruptcy, Chapter 11 also allows businesses the chance for a fresh start. However, filing for Chapter 11 can be costly and should be carefully considered.

What does the future hold for Geneva Pipeline after bankruptcy?

Tough times are ahead for Geneva-based company A2 Services LLC, doing business as Geneva Pipeline, as the company is filing for bankruptcy. Their Chapter 11 bankruptcy petition was filed recently with the Bankruptcy Court of the Northern District of Ohio, and in it, Geneva Pipeline has stated that it intends to reorganize.

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