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Can I run a business if I am bankrupt?

Published in Debt Advice Features on Thursday, October 12 2006 by Open Doors Money

Yes you can, however you cannot act as a company director, you will have an impaired credit rating and you may struggle to get certain licences needed for certain business. If you had a business prior to going bankrupt, you would technically lose this, and any considerable assets may have gone into the bankruptcy, however you can begin the business again. You can do this as long as you don’t trade in any other name other than the one you were made bankrupt in without disclosing that you are bankrupt. You may also struggle to get a business bank account and any type of business finance.

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