The Impact of Bankruptcy Laws on Startups

Entrepreneurship is widely recognized as one of the most important drivers of economic growth. But it’s also risky: The majority of new ventures fail, and many end in bankruptcy. Given that track record, when entrepreneurs consider a new international market, they regularly weigh such factors as logistics and differences in cultural attitudes and financial regulations.

But according to this paper, business owners would do well to also consider another crucial but potentially uncomfortable issue: Are the country’s bankruptcy laws friendly or onerous to entrepreneurs?

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