Tag Archives: Business

Can a Small Business File for Chapter 11 Bankruptcy?

Chapter 11 bankruptcy is one of several ways businesses can seek debt relief. Although Chapter 11 cases are typically associated with large companies, smaller business owners can also take advantage of its protections. If you want to restructure your debts and continue operating your business, then this is an option to consider. If your business has less than $2,566,050 in debt (as of 2016), then you are considered a small business debtor. As a small business debtor, there are differences from a typical Chapter 11 case. These differences include: No committee: When a large business files Chapter 11, a committee is assigned to represent the interests of creditors. This is not the case when a small business debtor files for Chapter 11. A reorganization plan deadline: Large business do not have a deadline to present a reorganization plan. As a small business owner, you must present your plan within 300…
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How Can I Avoid Business Communication Problems?

Communication problems between your employees are typically a symptom of other major issues at your company. Your workers should feel as if they are on the same team and fighting towards the same goals. Problems communicating, rampant infighting and unhealthy competition can derail operations. In the worst-case scenario, it can ruin the reputation of your business and lead to rapid turnover. There are multiple ways you may avoid common communication problems. Set clear expectations and goals. Your employees should have a clear understanding of what your business is trying to accomplish. All employees should also understand how you intend to accomplish these goals. Put your goals and expectations in writing. Clearly define job duties and responsibilities. Avoid leaving employees in the dark. You should share critical information with employees. When you keep secrets and fail to share information, it leads to fear and distrust. Employees who do not receive critical…
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