Search SEARCH

My partners business may go bust very soon. Any tips on how to get the best out of this situation?

The Company is limited. Should he try to keep the business running as he has been doing or should he call it a day? He's doing his best to look after his staff as well. He has 6 years till he can retire so will prob not be employable. He has a mortgage and also pays child maintenance to his ex. Will he lose any capital in his house if he goes bankrupt? Any help appreciated thanks.

Asked By: Becky - 6/5/2006
Best Answer - Chosen by Asker
Review where the business in the cold light of day and see if he can keep the business viable by until retirement by cutting costs and if possible charging a little more for the products and services provided by the company. Its commendable that he is keeping staff, but its a business and staff won't be there to help... More
Answered By: lee.electric - 6/10/2006
Additional Answers (6)
keep on working until all hell breaks loose also if your goin down go down with a bang and take everyone out including common houseplants my halo2 stratgey
Answered By: southern4life117 - 6/5/2006
 
just bail out and look after your self ..Don't sell out to cheep keep your head and get a job in B&Q. Enjoy your time and you will feel 100% better when it off your back.
Answered By: tommytar - 6/5/2006
 
declare bankrupt will save him a fortune.accept that there is no more you can do to help the workers apart from being honest with them.
Answered By: tranka007 - 6/5/2006
 
Honestly, the best advice i can give here is pack up... If its a limited company, there is no liability on the owners part...therefore all his persoanl assets will remain his... More
Answered By: Asif - 6/8/2006
 
If things are that bad, there is such a thing call cut loss. Instead of getting himself into more debts.
Answered By: anne_ p - 6/10/2006
 
it is best for him to work as hard as possible . and if still his business has busted , he should start a new business as quickly as possible and work very very hard in it.
Answered By: lucky sharma.. - 6/12/2006
 
Sponsored results
Over 483 Local Jobs Now Hiring In Your Area. $18-$87/Hr - Apply Today!
Jobs.Quick-com
Click. Search. Apply. Free!
www.JobDiagnosis.com
Jobs hiring near your local area. Part-time, Full-time, Work at home.
www.HiringLocally.com
Get Your Degree Online Sooner than You Think. Financial Aid Options
Degree-Accredited.com/Degree

Other Career Questions

What is your current job? Why did you choose this job? What do you enjoy about your job? What do you dislike about your job? What would be your perfect job? Would you rather have this j...
3 answers - Asked By: drop pants not bombs!.♥ - 3/2/2010
Where are the jobs? Is productivity and globalization creating a permanent “recession” of jobs? My main issue is I am doing a paper for school and have no idea where to begin. I was hoping suggestions...
4 answers - Asked By: bayebd24【ツ】 - 11/21/2007
Hi ok im 19 and about to start college to do an acess course into a university. Ive been browsing through all the courses and im tottaly stuck! I thought politics but im scared ill end up with some r...
1 answers - Asked By: roseparkerly - 1/26/2009

Content is not owned or controlled by Monster. Any content concerns should be addressed with Yahoo!
Yahoo! Does not evaluate or guarantee the accuracy of any Yahoo! Answers content. Yahoo! Disclaimer.

Popular Articles

Best-Paying Work-from-Home Jobs Article Rating
It’s easier than ever to work from home. Of course, not every job is a mobile job, and some companies aren’t interested in having their employees work from home.
2013 Marketing Jobs Outlook Article Rating
The US may be facing another year of anemic hiring overall, but that won't be the case in the high-orbit world of multichannel, digital media marketing.
For Employers: Post Jobs | Search Resumes | Advertise
About Monster | Work for Monster | Advertise with Us | AdChoices | Partner with Us | Investor Relations | Social Media
Terms of Use | Privacy Center | Accessibility Center | Help | Security | Contact Us | Sitemap | Mobile
©2014 Monster - All Rights Reserved U.S. Patents No. 5,832,497; 7,599,930 B1; 7,827,125 and 7,836,060 MWW - Looking for Monster Cable? - V: 2014.1.40.24-317
eTrustLogo