How do you prevent your business from bankruptcy?

[Lens]

Each and every investors would always try to prevent their businesses from going bankrupt. The crux of implementing this is to make the business stay relevant in the industry . There are so many things that could be done to prevent the business from going bankrupt and the most important is proper business management. What do you think?

 

[Bisolami]

Each and every investors would always try to prevent their businesses from going bankrupt. The crux of implementing this is to make the business stay relevant in the industry . There are so many things that could be done to prevent the business from going bankrupt and the most important is proper business management. What do you think?

You can do that by keeping your eye on every activity that happens in the business

 

[Good-Person]

You can do that by keeping your eye on every activity that happens in the business

Having proper plans is a huge factor when it comes to preventing businesses from bankruptcy. Many businesses collapsed because their owners never planned thing in a better manner.

 

[Salt]

The owners are required to have full knowledge of the company affairs and if they are totally dependent upon their managers then they may face bankruptcy soon

 

[Kubiatabasi]

Personally, I keep track of every business transaction, that way, I know where my money is going and the amount that's entering, this help me know when I'm running out of stock thereby avoiding bankruptcy.

 

[Salt]

We need to see if our cash flow is positive and it will help us stay motivated and we should take major decisions carefully as one wrong decision can make us experience losses