BR and starting a business

bobblebot

I am going BR in July, am self employed at mo but would like in future to start a business that involves setting up research contracts and recruitment. As a BR can I strtr up a business as I've heard that I can never run a business-is this true?
Cheers in advance

Richard_S

bobblebot wrote: »

I am going BR in July, am self employed at mo but would like in future to start a business that involves setting up research contracts and recruitment. As a BR can I strtr up a business as I've heard that I can never run a business-is this true?
Cheers in advance

Hi bobble,

There is no problem with being bankrupt while self employed, and the O.R won't do anything to your business that would jeopardise your ability to earn a living. The only restriction that applies while you're undischarged is that you can't be a director of a Ltd Co.

Richard

rog2

During your Bankruptcy Period, usually 12 months maximum, you are not allowed to start up a limited company, or be involved in the running of a new business, as a director/shareholder.
You are allowed to continue trading during your bankruptcy period, if you were self-employed or running your own business, however, please be aware that you will find it difficult to get credit (for which you will be limited anyway) and you must declare the fact that you are bankrupt if required.
After your discharge you will be free of all bankruptcy restrictions and are free to start up a business.

Conor_3

You must also clearly display your name as well as the company name.