How To Start A New Business After Bankruptcy

It is difficult to start a new business after bankruptcy, but possible. We all know, nothing is impossible , If we have a passion or desire to achieve it, we can do it.Success and failure are a part of life. We should never give up in life. Belief is what we need to do to achieve something.

If you try putting your hard work you will get success and one learns from the failure.

Sometimes because of poor timing, poor use of business funds, and lack of knowledge, training & expertise can be reason of bankruptcy. Even a proper planning is also required.

Here I am sharing few thoughts which can help us to start a new venture

1) Build trust

Building trust is required at the first step. Without trust, a venture can’t last for long. Especially when you have the mark of bankruptcy . Don’t be disappointed as with the right connections and strong determination & proposal one can gain the trust of others.

2) Credit approval

A creditor is someone who can provide you with a loan for the new venture. Depending on the terms and conditions of financial aid, assets- either movable or immovable, can be tied up with the creditor by going through the requisite formalities.

After the bankruptcy it is difficult to get funding from investors as they doubt your creditworthiness. So this is where Associates Home comes into the picture. Going by their tagline ” If you’ve got the equity, we got the loan!

Associates Home Loan gives wings to your dream so that you can fly high once again. You can take the loan after bankruptcy  from Associates Home Loan . You can contact them to know the terms and conditions to qualify for the loan

3) Keen an eye on current reports, goods and the money spent.

One must check the sales on daily basis. Purchases should should be checked on short intervals. Remember, a small mistake can lead you to a big problem. So it is better to be very careful while submitting or making the reports.

4) Proper planning

Planning is the key  .Whenever you plan to start a new venture, you must plan accordingly. Everything has to be well researched and money should be spent in small amounts at the beginning. Ensure that you don’t erode your capital in one go.

5) Expert in the field

The person you choose should be experienced and well-trained in their field in which he/she is supposed to invest the borrowed money . With proper planning and solid research about the business, there will be a chance to get good returns. This will make the project more viable and therefore, it becomes easy to attract investors.

There are many other points which one should note to start the new venture. You need to be focus and give more then your best to prove yourself. I believe one can achieve what they want if they put efforts have a passion towards it. So get motivated and give it a new start today .

Read this :

26 thoughts on “How To Start A New Business After Bankruptcy”

  1. Very good post about starting a new business after bankruptcy. Highly informative and nicely written. Keep up the good work.

  2. Starting a business after bankruptcy is a big step and need proper preparation. Planning, taking help from experts is very important to avoid future problems.

  3. I think planning and proper research is one of the most important step to start a new business after bankruptcy. and it is equally important to take each step with caution to avoid unnecessary complications in future.

  4. I think this require lots of courage. And, if the person plan to start then, trust and proper planning can really save them and come back stronger. Planning might take time, but prevention is always better than cure.

  5. Thanks this was very nice read and thanks for sharing this valuable & informative topic .

  6. Thanks for sharing with this. I m glad you shared that How To Start A New Business After Bankruptcy. This is very important topic. I got it. you are amazing post and well writing article.

  7. Building trust and getting funding are very important to start a new business after bankruptcy. These pointers are practical and helpful.

  8. The Pandemic has seen many businesses shut down and as a result, many people going bankrupt. This post is a hopeful and helpful guide to get people to start again.

  9. These pointers are practical and helpful. I think this require lots of courage. Planning might take time, but prevention is always better than cure.

  10. This is a very informative post for anyone who is going to start a new business. Growing a business is not easy and required a lot of homework. Love the fact that you are actually making people understand the importance of credit approvals and how to go about it.

  11. A big round of applause for you as you really nailed it this time with this post and gave some ray of hope to people who wish to start afresh after facing bankruptcy . Very well written article dear.

  12. This is such a helpful post, starting a new busienss is nothing less than a herculean task . Thanks for sharing the insightful information , much needed after bankruptcy

  13. Great writing! I might say it takes tons of courage to take that leap and falling into bankruptcy is only one of the hurdles one can encounter. Like anything in life, it’s from mistakes that one learns more. By keeping the right mindset, one could use this opportunity to grow a greater business than his/her first one.

  14. This is really a great post for all of those who are looking ahead to a new chance to start up their business. Thanks for sharing such a detailed post!!

  15. Many businesses took a hit since the pandemic and people are facing mental health issues. Being positive and working towards new very important. Great tips.

  16. Starting a new business offers many challenges. These are multiplied manifold when you have to do it again after bankruptcy. These are some really excellent tips in this direction.

  17. It takes a lot of strength to start a new business after bankruptcy and these tips and suggestions on starting a business with a loan seems really good. Loved this detailed post a lot.

  18. This post is really inspirational to start a business from the scratch with all the step by step guide stated here. Planning always hold the upper hand and it can do wonders when executed the way it has been planned.

  19. Starting a business after bankruptcy is tough as trust comes into pictures and not many are ready to have that faith in u again. But yes a right strategy can help win this.

  20. Research, planning nd proper execution can safe you again. Take lessons from past mistakes and courage for moving forward. In short mindset will play a mjor role.

  21. The idea of not being able to do something on your own is disheartening. People need to work and there are instances in which they fail. So, this insight is very helpful in understanding the problem and working on another project.

  22. Starting a new business after bankruptcy is not a easy thing. This post provide positive amd meaningful approach to restart the business

  23. The pandemic times have indeed brought many businesses to the brim of bankruptcy. The ideas you have shared will surely benefit many

  24. The pandemic has brought so many disasters in everyone’s life . People have lost their businesses and bankrupted . Your points are so practical in this case . Proper planning and experts guidance is necessary to start again.

  25. One hurdle or failure shouldn’t hamper the future growth or perspectives. You have share key points to start refresh with right guidance.

  26. Very well written post and great tips. This pandemic times have been harsh on many. Your post will be a helpful read for many.

Leave a Reply

Your email address will not be published. Required fields are marked *