Measures to remove the stigma of bankruptcy will be announced in next week's Budget in an attempt to encourage more entrepreneurs to start businesses, The Daily Telegraph can disclose.
It will no longer be necessary to advertise in local newspapers that you have gone bankrupt, ministers will say
"Most people cite the fact that they are afraid of not succeeding. But we have some great examples like Richard Branson and Simon Cowell, who had a serious [business] setback and started again and look at him now.
"If a small company goes bankrupt it is advertised in all the local newspapers - there is a big stigma attached. So we are going to remove the requirement to advertise in papers that you have gone bankrupt."
Does that mean they are more trying to cover up the amount of brankruptcies happening in the UK? They don't want people to go public when they run out of money due to the economic atmosphere. Maybe I am just being a bit pessimistic because I am sour that one of my friend's companies had to resort to bankruptcy.
Does this rule relate to individuals who are declaring themselves br or just businesses.
Man thanks
quote:Originally posted by atpgirl
Does that mean they are more trying to cover up the amount of brankruptcies happening in the UK? They don't want people to go public when they run out of money due to the economic atmosphere. Maybe I am just being a bit pessimistic because I am sour that one of my friend's companies had to resort to bankruptcy.
Treasury to take the shame out of bankruptcy
Posted - 09 March 2008 : 10:50:12
