Key Takeaways
Starting a business after bankruptcy is possible, but it requires careful planning and an understanding of the legal restrictions that may apply. Bankruptcy is intended to provide individuals with a financial reset, but it does not remove all obligations or risks.
As an undischarged bankrupt, you may face restrictions on managing a company, obtaining credit, dealing with assets and earning income above certain thresholds. Even after discharge, your bankruptcy may continue to affect your ability to obtain finance or negotiate favourable terms with lenders, suppliers and business partners.
A successful return to business should be supported by legal advice from an insolvency lawyer, financial discipline and the…