And this is why bankruptcy laws should have been changed years ago as someone gave things a try, did their best market forces went against them and with just a small bit of pain was able to get back on their feet and contribute back into the tax system.
Opening and running a small business is not easy and you need luck along with capital and an awful lot of hard work to get it to a long term profitable level and here up to recently there was too much negativity if you failed and a punishment via a lengthy and costly bankruptcy whereas in the states it was almost seen as a badge of honour and part of the learning process.
But above story shows how much it has changed for the better and this will lead to more people taking a risk because the safety net is not the hard landing it used to be.
Opening and running a small business is not easy and you need luck along with capital and an awful lot of hard work to get it to a long term profitable level and here up to recently there was too much negativity if you failed and a punishment via a lengthy and costly bankruptcy whereas in the states it was almost seen as a badge of honour and part of the learning process.
But above story shows how much it has changed for the better and this will lead to more people taking a risk because the safety net is not the hard landing it used to be.