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  • Knoxvomica
    3·
    1 year ago

    As far as I understand it, the business goes bankrupt, not the individual.

    • Rodeo
      1·
      1 year ago

      In a sole proprietorship, aren’t they the same thing? That would only apply if incorporated, which most small businesses aren’t.

      • Knoxvomica
        1·
        1 year ago

        In that case I think you’re right. Quite a few businesses are incorporated though. Especially in the professional services realm where liability is a huge issue.