Can I Keep My Business?

Are you a business owner and worried about losing your business? If you go bankrupt, chances are you won’t lose your business. This potentially is the most complicated aspect of going bankrupt, but it doesn’t need to be. In short, the government doesn’t want you to be unemployed and bankrupt, so it makes more sense for you to be able to remain within your business.

You can generally continue working as a self-employed individual, functioning as a sole trader after becoming bankrupt. You cannot, however, be the director of a company for the 3 years that you are bankrupt. If you own a business and would like some help with your bankruptcy, call us on 1300 795 575.