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Experiencing the failing of your business is one of the hardest things an entrepreneur can think of. Especially if you’ve devoted years of your life and thousands or even millions of dollars into your company, finding out that you can’t afford to stay in business anymore can be detrimental to your lifestyle and mental health. However, many of the problems businesses face that result in bankruptcy and failure could have been avoided if they’d only known what to look out for. To make it so your business stays afloat, here are three tips for avoiding bankruptcy as a business and remaining in the black.

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