Originally Posted by
marchino61
Basing your ideas on the richest man in the world is hardly going to give a typical case.
A more typical case is the entrepeneur who has used his/her house as collateral to start up a business. If the business fails, the entrepeneur loses their income and their house.
Not if their assets are squirreled away in off shore accounts or in their spouses name. The company goes in to liquidation, all the creditors lose out, including the lenders and Mr Capitalist keeps his head down for a few months before starting up a very similar company with a slightly different name.
I know I know, this is an extreme example but it does happen. I have the utmost respect for any entrepreneurs who come up with an idea, successfully build their business and employ people on good wages and T & Cs.
Wetherspoons and First Direct are not included.