Illustrate five strategies that an entrepreneur could adopt in order to survive bankruptcy .

Illustrate five strategies that an entrepreneur could adopt in order to survive bankruptcy.

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Five strategies that an entrepreneur could adopt in order to survive bankruptcy

i. Sale of tangible assets to obtain cash to set off some of the outstanding debts

ii. Negotiation With creditors and lenders to restructure their loans advanced to the enterprise.

iii. Factor of debts to Factors to improve debt collection and hence cash flows within enterprise

iv. Liquidation and thus closing down the operations of the enterprises

v. Appointing of a receiver to manage the enterprise and a possible turnaround

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marto answered the question on January 30, 2019 at 07:20

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