Bankruptcy among small businesses in America is unfortunately a common occurrence. Approximately 40,000 small businesses go bankrupt every year. Most people who have opened their own businesses have put a lot on the line, risking all of their personal finances to succeed. So many become in debt after only being open for a few months. This happens quickly even when their business is flourishing. After long month or years of struggles, these businesses can no longer sustain themselves, forcing them to make a difficult decision, of whether or not to enter into bankruptcy.
