What are the signs that a company is near bankruptcy?
List of Common signs
There are several signs that are a giveaway that a company is near bankruptcy or at least in financial trouble. These companies may be in bad shape, and employees of such companies should be wary of their employer's financial situation. Here's a list of some of the most common signs:
*The company has been unable to pay bills on time.
*Paychecks are late.
*Employees are laid off frequently.
*The company is constantly asking employees to work overtime without additional compensation.
*There is little communication between company leadership and its employees.
*The company is missing tools, equipment, etc., or items are broken or outdated.
The important thing to keep in mind
You might have heard a lot of bad news about the economy lately, but an important thing to keep in mind is those bad economics are not necessarily synonymous with bad business. Despite what you may have heard about the state of the world economy, there are still plenty of profitable companies out there and plenty of people who know how to run a business effectively.
Understanding the signs
-A lack of focus on important details– A good entrepreneur understands that keeping tabs on the small stuff is just as important as keeping an eye on the big picture. If a company isn't paying attention to details like customer service or product quality, it could be a sign they've lost their way and they're not likely to last much longer.
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