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Does A Business Bankruptcy Hurt My Personal Credit?

YoungUpstarts

Naturally, this comes with a long line of responsibilities, including the dreaded finances of salaries and taxes. But your business life and personal life aren’t one, so you have to stay on top of your personal finances, too, no matter how intertwined the two seem. Will your business’s bankruptcy harm your own credit score?

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Why Startups Are Ready For A Reboot

YoungUpstarts

Companies that have managed to do this have a distinct advantage over those dependent on financing from external sources. NBC News points out several companies that filed for bankruptcy during the later months of the crisis. Businesses have had to look for more creative means for funding their success.

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Everything You Need to Know About the Difference Between Bankruptcy and Liquidation

The Startup Magazine

If a business or person is unable to pay off their debts, then they may be forced to liquidate or declare bankruptcy. The purpose of liquidation and bankruptcy are actually quite similar, although the way that both are applied are not the same. What is bankruptcy? What are the types of bankruptcy? Source: Pexels.

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3 Key Factors Lenders Look For When Assessing Business Loans

The Startup Magazine

Similarly, you’ll want to diminish your cash outflows by any means necessary; vaguely speaking, this means ‘cutting the costs of doing business,’ but more specifically it may entail getting rid of unessential employees or changing suppliers in order to secure better long-term financing on your deals.

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Why You Should Background Check Your Business Partner

YoungUpstarts

Background checks of potential employees routinely show both minor and more concerning issues for employers. Here are the issues that merit concern: Financial Issues: Bankruptcy, tax liens, poor credit, and other financial problems should raise a red flag, even if your potential partner will not be contributing financially to your business.

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Under Development: Why the Construction Industry Needs Software Solutions

The Startup Magazine

The construction and building industries are heavily reliant on a contracted workforce; that is, there are a great number of individually contracted ‘employees’ who are invoiced and paid separately, rather than through a centralised system. Meaning that any projects which aren’t securely financed leave workers with the risk of not being paid.

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How to Take Better Control of Your Business Finances

Women Entrepreneurs Can

Being in control of your finances is important as a business. The more control you are of your finances, the greater financial success you can attain. Here are some tips for how to control your finances and get more out of your business. Take Control of Your Finances When Things Get Sour. Separate Your Business Finances.

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