11. Finding Bad Business Partners
Choosing a bad business partner is a common reason people go bankrupt, according to Catherine Cooper, founder of Catherine Cooper Qualitative Research. One partner can run up credit, drain the business and essentially run it into the ground.
When the unsuspecting partner discovers what’s going on, there’s no money and a mountain of debt. Even if you were unsuspecting or deceived, you’re responsible for what your partner does, Cooper said.
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