Don’t Let the Loss of Your Small Business Lead to Personal Bankruptcy
As the owner of a small, unincorporated business, you are a sole proprietor. Or your business might be a partnership if you’re in business with someone else. If your business is a sole proprietorship or an unincorporated partnership, you are your business. Its assets are yours and its debts are yours. This is why losing a small business can end in personal bankruptcy for the owner.
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