#66 - What To Do When Your Business Is Worth Less Than Your Debt Ft. Hank de Jonge

What do you do when your business isn't worth enough to cover what you owe? Most owners assume they're stuck - but insolvency expert Hank de Jonge returns and joins Bruce and Peter to explain why that's rarely true.In this episode, Hank walks through a real case study where a business listed at $500K was only worth $250K, and how a structured plan allowed the owner to sell, settle debts the right way, and move forward without personal financial fallout. He breaks down the often misunderstood difference between selling a business and winding up a company, explains when and how creditor negotiations work, and introduces the Small Business Restructure - a government tool with a 75% success rate that many business owners have never heard of.If you're carrying debt, unsure of your options, or just want to understand what a "whitewash" really means in business - this one's for you.The Meaning Business Podcast is your go-to show for insights on buying, growing and selling businesses.Hosted by business advisors Bruce Coudrey and Peter Spinda, each episode explores real-world strategies, lessons and opportunities to help business owners and entrepreneurs succeed.If you’re thinking about buying, selling or growing a business, the team at Benchmark Business Sales & Advisory can help guide you through the process.🌐 Learn more:https://linktr.ee/meaningbusinesspodcasthttps://benchmarkbusinessadvisory.com.au/meaning-business-podcast/