Posts Tagged ‘The law’
Bankruptcy Entrepreneur
The bankruptcy procedure is very long and expensive: why the law considers it useful for various stakeholders only when the entity is of medium or large.
For smaller companies, however, essentially not worth the trouble and to satisfy the creditors are most useful, the ordinary individual enforcement actions.
The law, therefore, prevent the “small business” is likely to fail. But who is the entrepreneur? This definition has changed many times, and only the new rules came into force on 1 January 2008 should be the definitive one.
The entrepreneur is now the one who has three conditions jointly gender dimensions. The assets must not be over three hundred thousand euros in the three previous years or the date of start-up if more recent; revenues last year should not be over two hundred thousand euros in the same timeframe, the total debts currently be, expired and unexpired, shall not exceed five hundred thousand euros. Read the rest of this entry »
Posted in Crisis in enterprises | 
Tags: Bankruptcy Entrepreneur, declared bankrupt, Entrepreneur, ordinary individual, small business, The law | 
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