Ways to limit a person's financial liability in case the business fails

Bankruptcy is a way to limit your financial liability in the event that your business fails.

I would say that bankruptcy has always been an alternative and the bankruptcy laws have been changed over the last year or so. There are legal ways of limiting liability, but that would be on the advice of an attorney. There is a difference between loans and grants. Assist your readers in understanding that loans are seen as government supported. Through a government entity, they are repayable, they are not grant. There are no grants in the federal government certainly from SBA to start a business. That's very important because there is some misinformation out there and we want to make sure that the right information goes to the right hand.

Written by Ellen Thrasher -
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