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Insolvency specialist predicts 20% surge in business failures

  • Thread starter Scottish Business Owner
  • Start date
Power Lunch Club

Power Lunch Club

New Member
I suppose the other side of the coin is saying that there are an element of people who shouldn't be running business as they are making too many mistakes.

I know of one chap who has gone bamkrupt twice. And running a business still. Now you could argue that his is incompetant or is he someone in business who has learnt from his mistakes and therefore going to be better at what he does.

Or should he just never be allowed to run a business again....currently he is not allowed to be a director of a business at present.

What do you think?

I am trying to find a link to a Radio 4 called Debt Doctors, broadcast last week sometime...when i find it i'll put it up...it was really interesting. About a series of companies who for various reasons went into liquadation...but it was more about how the organsation help them through the difficult time. Did anyone else hear it?

Gordon
PLC
 
Scottish Business Owner

Scottish Business Owner

New Member
The bankruptcy rules that have only recently been introduced have not gone without criticism. I think even I would agree that they are now seen as an easy way out as you can now be discharged from bankruptcy in as little as a year.

I'm always amazed in the limited company scenario how easy it is to simply call in the administrators and walk away from all the mess, there doesn't seem to be a lot of accountability and there's simply no punishment that would put people off from doing it again. Many people do abuse the system for their own gain which is just plain wrong.
 
S

ScottJ

New Member
A surge in business failures is also a surge in opportunity for others.
 

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