this post was submitted on 04 Sep 2023
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Monday: Silly Questions (lemmy.ca)
submitted 1 year ago by [email protected] to c/[email protected]
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[–] [email protected] 3 points 1 year ago (1 children)

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

[–] [email protected] 1 points 1 year ago (1 children)

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

[–] [email protected] 1 points 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.