Lessons Learned From “Small Business Saturday”

We’ve talked a lot about the recent record-breaking Black Friday, but it was our nation’s President who instead promoted shopping on the second annual “Small Business Saturday,” a day (November 26) devoted to spurring growth and hiring in some of our country’s most hard-hit business sectors.

According to Reuters, “Promoting "Small Business Saturday", the second annual event to help Main Street merchants in a tough U.S. economy, [President] Obama visited a local bookstore with Malia, 13, and Sasha, 10, in the diverse, upscale Du Pont Circle area of downtown Washington.

"This is Small Business Saturday so we're out here supporting small businesses," said Obama, standing next to Malia who was hugging an armful of books to her chest. To help merchants at the start of the most important shopping season of the year, Obama signed a message of support on Wednesday that noted small businesses "are the backbone of our economy and the cornerstones of our nation's promise."

The President’s words ring true in an era where slumps in spending at small businesses from California to the Carolinas have meant major hits to the American job market and staggering unemployment in the years since the economic recession officially ended.

For many small business owners living through these dire economic times, bankruptcy has not only become a safe haven from those drowning in a company crisis, but also a business strategy for average Americans keen to start fresh. A Chapter 7 or Chapter 13 bankruptcy can wipe away personal guarantees and allow you to have a "reset" button for your business aspirations.

You Have More Debt Thank Income (But You Do Have Income).
As mentioned, in this post-recessionary world, many businesses have been forced to cut staff, cut prices, and hold on to inventory. All of this can be a recipe for rising debts, and lower incomes. But if you do still have income coming in despite the recession, Chapter 13 can work for you with a plan that allows you to reduce debt, restructure your mortgage and car payments arrearage, allowing you to put your efforts back into the business.

So, are you a businessperson who is considering the many safe havens that bankruptcy filing can provide? Or are you an average American reading about the benefits of bankruptcy and want to learn how these types of benefits can help you? If you are seeking the broad protections of bankruptcy, it’s best to consult with a qualified attorney before filing. A qualified bankruptcy attorney is important during the bankruptcy process to help you navigate any uncertain waters and work in your best interests throughout the duration of the case, regardless of your status. The bankruptcy attorneys at the Law Offices of John T. Orcutt offer a totally FREE debt consultation and now, more than ever, it’s time to take them up on their offer. Just call toll free to +1-833-627-0115, or during the off hours, you can make your own appointment right online at www.billsbills.com. Simply click on the yellow “FREE Consultation Now” button.