The reason Business got bankrupt
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40 points
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Posted on - 04/12/2012
What would be the exact reason why some businessman gets bankrupt?
Even though there’s a lot of knowledge on how to manage.
The reason Business got bankrupt
Hi Mr. Yuvhic,
Bankruptcy is not for immoral or bad people it might happen to every one of us or even to businessman. It strikes when bad things really happen even though he or she has a lot of knowledge to control a certain thing. For some instances, any catastrophe may happen and that person is push to file bankruptcy in losing everything that can break finances.
This situation can’t be handled because it’s an act of God. Some other example is the over use and abuse of credit, that people is basically cannot manage their spending. Other expected reasons were job loss, divorce or separation, business failure, unexpected expenses, fraud related debts and medical expenses.
Stanislava Yap
Best Answer
Best Answer
The reason Business got bankrupt
Business management is not the usual cause why most businesses and businessmen get bankrupt. The common cause is wrong choice of investment. To make a business grow, a businessman needs a lot of investing to do.
And when you invest, it means a big sum of money will be coming from you.
Sometimes after investing the market unexpectedly goes down and goes with it the capital. That’s why before entering into any investment a careful study and planning is required together with just enough capital for the business so that in case something goes wrong you still have a different plan and spare budget for it.
Doing business is really a “do or die” thing. It is really a total gamble.
You need to have the guts and strong will to make it happen.
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