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Small Business
News <S Views
1
Small Business Faifiirer~ ■ -
. A small business firm can go out
" Of business tor "a- variety of
reasons - including merging into
anotner firm, retirement of the
owner, a failure with no loss to
creditors and failure witn losses to
creditors Usually on»v business
failures with tosses to creditors are
oicketi up ano tabulated b'- cedi’
reporting firms, sucn as Dun and
sraSsi’t-t: ----
Tne Dun and Kradstreet < D&F.
oupiisnes annual statistics or
ousiness laoures anc tnese are
usual:'- a combmapar 2: cog—
recorder oariKtuntcv petition:
Pius ini irridiiuit oti uus-rtas- d.-..
solution ov ne'O reooners ol
in < tcuttirr t&fii. tor example D&F
reporter t>iis:ric^> t.::i..-.*.
'’leiding c annua: p.;ure ot aa>
proximate*- lr - ,r a,
- ne prooarjti.i' r. i*ustiiT*^
sut virint1 is nir“ctiv ;o Cbc
es.ittuaitd.dg" o> me ujsines- a ne*t
1'u.Mness estaonsnment w!(./ u«. v
2" employees Mas oniv a 3* TK*rcen*
CD:Wi of surviving ..iur vea: o .1.
ousmess anc- a nine percent change
o* surviving lor m vears a bus
ness win .>] ir, 5t, employees uai •<
fcruerieni enmico -ei lasung tot •
years and "a 26 percem chance o<
Deine in business for in vears
Tne numoer of business failures
reported by D8iB is a valuabi^
_maicator of business distress. The
mcrease~TrT reported Business—
.. tanures between 1930 and 1981
ranged from 32 percem in whole
sale trades to 49 tier cent in con
struction Other increases in busi
ness failures included services 47
percent retail trades 41 percent
and manufacturing at 37 percem.
The Bankruptcy Reform Act of
1978 which became effective in.
October 1979, permits businesses
to use new and simplified altern
atives to liquidation in closing and
may encourage many small firms
to file for bankruptcy.
Chapter 11 of the Reform Act
simplifies the proceedings and
reduces delays for firms that want
to reorganize and stay in busi
ness Chapter 11 gives many small
businesses a means to survive until
the recession or other financial
problems recede and conditions for
financing their businesses
improve In addition. Chapter 13 of
the Act opens alternatives to sole
pronnetors that lormeriv were
available only to wage earners.
Now any person witn unsecured
debts of iess than $100,000. or
secured debts ol $350,000 or iess
ana who has sufficient income for a
renayment pian can retain h
_ iirrn s assets ana deveioo a re
covery plan under court supervi
sion ano protection since the
maw. v of banuruntcies are vo
iur, jrv tnese ne* remrms rr.a^
mooi-v me trene of unng lo
nnnkrU!)’pv urn?-nact°r
7 nrovnes or TTqj: **
•« «or •** ine iirrn s assess up
Ci)un suoervis
In nonoral itrryic *>0°
-rr*o. ivee*- or. n»*» Mrno'v iai* tn*?y
ier-^ i ^ r«-(ii»**p '•••prahon? and
st"** "pase to^x^. Aianv sma, 0”
nrms ^ire^av ooprauno at maroir
a* tpvei> nouever simpiy ian i:
tney enter a aowniurn penoc
it vdu are rons'^prino rp^**
fcamzarion ana recirection under
~ThC' Tsamcruotev Keiorrr, Ac, yr,<
snouid seeK comoetent legal •
advice before taking any action
For adaitionai information con
tact the Economic Development
-- Division. X>nter,ior improving
Mountain Living Western Carol
ina University. Cuilowhee. NC
28722
The Dukes Of Hazeard
It's Sadie Hogg Day in Hazzard
and Daisy gets set up by Boss Hogg
for the job. of Honorary County
Treasurer during the time the
bank funds are to be audited, on a
rebroadcast of “The Dukes of
Hazzard,” Friday. May 14 at 8
p.m. on WBTV, Channel 3.
Boss wife. Lulu, gets the job of
Honorary Boss, Rosco s Aunt
Clara becomes sheriff for f^r dev.
with Miz Tisdale as her deputy anti
Daisy's stint at the bank starts .
with a robbery, for whicn ner
cousins,Luke and Bo, are njuyrju...
ly blamed "
_
DISCOUNT BEYBIAGI
The No. 1 Discount At
1200 Porkwood Ave.
376-6559
Mon. - Thur. 10 A.M. - 11 PM.
-Eri. - Sot. 10 AM. - 1 AM. ^ jm
Sunday 1 PJ\A. - 11 P.M.
Theatre Grttup Tq present TtefceaP At• Mint Museum "*■ • ; i j :
Playwrights' Forum, a local
theatre group formed last year to
hear original plays read, will pre
sent a free performance of
-‘Retreat.’’ a play written by Phil
Hines of Charlotte on Saturday,
May 15, at 2:30 p.m. in the Golden
Circle Theatre at the Mint
~MuSeurrr- tKH- Hampstead^Place
The public is cordially invited
For “reader's theatre’ produc
tions, the playwright furnishes the
script, ana the performers have
one rehearsal Defore presenting
the play - lines are reaa, not
memorized The audience partici
pates by critiquing the piav, with
tne autnor preseti.
"Retreat." a serio-comic play
directed by Jim Faleoni, is set in a
small southern town. Ten people
are reunited at the funeral of one of
the town’i leading citizens The
play deals with the ritual of a
southern funeral while examining
the conflicts between family mem
bers. The cast of •‘Retreat" in
eludes Lie Steele. Duke Emsber
~~ i ntWm __
ger and Bob Pierce.
Playwrights' Forum plans free
monthly performances in the
Mint's Golden Circle Theatre The
next play is scheduJed-fo^-Satur
day. June 12 at 1:30 p.m
For additional information abou;
Playwrights’ Forum, call Pni:
Hines at 377-0641.
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For The
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Capture??!*.6 We •
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took y« j^r woman
T^haf>lr but
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Suggested 6, we are
f>me!
Our t^|p |s jn Your Hands.
____ 'ROFESSIO N,ems And Do Not Coll
REALTY V _
iDPFLV Is HERE!
w nW/ . _ tlSTER MARGO
Mon-Wed lQ,7-Ihurs-Sot.-J£ _
_Freedom Mall * ChnrU* ^orTe 374-9i«o