{"page":"\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/resources-c03aa079.css\" /\u003e\n\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/lp_boclips_stylesheets-517835be.css\" media=\"all\" /\u003e\n\u003cdiv data-title='Back from bankruptcy and how to avoid it' data-url='/boclips/videos/6878e3c7860c8396ee54d473' data-video-url='/boclips/videos/6878e3c7860c8396ee54d473' id='bo_player_modal'\u003e\n\u003cdiv class='boclips-resource-page modal-dialog panel-container'\u003e\n\u003cdiv class='react-notifications-root'\u003e\u003c/div\u003e\n\u003cdiv class='rp-header'\u003e\n\u003cdiv class='rp-type'\u003e\n\u003ci aria-hidden='true' class='fai fa-regular fa-circle-play'\u003e\u003c/i\u003e\nVideo\n\u003c/div\u003e\n\u003ch1 class='rp-title' id='video-title'\u003e\nBack from bankruptcy and how to avoid it\n\u003c/h1\u003e\n\u003cdiv class='rp-actions'\u003e\n\u003cdiv class='mr-1'\u003e\n\u003ca class=\"btn btn-success\" data-posthog-event=\"Signup: LP Signup Activity\" data-posthog-location=\"body_link_boclips\" data-remote=\"true\" href=\"/subscription/new\"\u003e\u003cspan\u003e\u003cspan\u003eGet Free Access\u003c/span\u003e\u003cspan class=\"\"\u003e for 10 Days\u003c/span\u003e\u003cspan\u003e!\u003c/span\u003e\u003c/span\u003e\u003c/a\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-body'\u003e\n\u003cdiv class='rp-info'\u003e\n\u003cdiv aria-label='Hide resource details' class='rp-hide-info' role='button' tabindex='0'\u003e\u0026times;\u003c/div\u003e\n\u003ci aria-label='Expand resource details' class='rp-expand-info fai fa-solid fa-up-right-and-down-left-from-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003ci aria-label='Compress resource details' class='rp-compress-info fai fa-solid fa-down-left-and-up-right-to-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003cdiv class='rp-rating'\u003e\n\u003cspan class='resource-pool'\u003e\n\u003cspan class='pool-label'\u003ePublisher:\u003c/span\u003e\n\u003cspan class='pool-name'\u003e\n\u003cspan class='text'\u003e\u003ca data-publisher-id=\"30356011\" href=\"/search?publisher_ids%5B%5D=30356011\"\u003eCurated Video\u003c/a\u003e\u003c/span\u003e\n\u003c/span\u003e\n\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-description'\u003e\n\u003cspan class='short-description'\u003eThis week Business Planet visits Ghent, Belgium to learn about what’s being done to help businesses avoid bankruptcy and rebound from it.  Green Jobs Every year in the EU, 200 000 companies go bankrupt, resulting in over 1.7 million...\u003c/span\u003e\n\u003cspan class='full-description hide'\u003eThis week Business Planet visits Ghent, Belgium to learn about what’s being done to help businesses avoid bankruptcy and rebound from it.\u003cbr/\u003e\u003cbr/\u003e  Green Jobs\u003cbr/\u003e\u003cbr/\u003e Every year in the EU, 200 000 companies go bankrupt, resulting in over 1.7 million people losing their jobs. This means 600 businesses a day.\u003cbr/\u003e Even though bankruptcy is not uncommon, the stigma and practical difficulties faced by entrepreneurs who who experience it often deters them from starting new ventures.\u003cbr/\u003e Even though only 4-6% of bankruptcies are fraudulent, public opinion often associates business failure with fraud.\u003cbr/\u003e A high number of business facing liquidation can be saved. A European Union (EU) early warning tool helps entrepreneurs assess their performance and identify sources of difficulty.\u003cbr/\u003e\u003cbr/\u003e New EU proposals on insolvency were proposed to allow companies in financial difficulties to restructure early on so as to prevent bankruptcy and avoid laying off staff.\u003cbr/\u003e\u003cbr/\u003e  Useful links\u003cbr/\u003e\u003cbr/\u003e Early warning tool\u003cbr/\u003e Bankruptcy \u0026 second chance\u003cbr/\u003e Start-up and Scale-up Initiative\u003cbr/\u003e\u003cbr/\u003e Proposal for new insolvency law\u003cbr/\u003e\u003cbr/\u003e Serge Rombi, euronews\u003cbr/\u003e “Were here with Pol Vermoere, co-founder of a company called Dyzo that assists businesses in difficulty. Today, bankruptcies are a serious problem in Europe.”\u003cbr/\u003e\u003cbr/\u003e Pol Vermoere\u003cbr/\u003e“Indeed. 200,000 companies each year go bankrupt in Europe, roughly 1.7 million people lose their jobs. We meet with troubled owners trying to save their businesses, and if that does not work, we try to figure out what the solutions are.”\u003cbr/\u003e\u003cbr/\u003e One of the best methods to avoid bankruptcy is anticipation.\u003cbr/\u003e\u003cbr/\u003e Euronews met with Philip Oosterlinck, one of Dyzo’s volunteers.\u003cbr/\u003e\u003cbr/\u003e Philip went bankrupt a few years ago. He had a four-generation family business that once employed 30 people. Despite the shock, he never gave up on himself and today runs a consulting firm.\u003cbr/\u003e\u003cbr/\u003e For the past year and a half Philip has been assisting business owner \u003cbr/\u003eDirk Van de Velde, who has a metal parts company that employs thirteen people. Though not in financial trouble, Dirk wants to be prepared.\u003cbr/\u003e\u003cbr/\u003e Philip Oosterlinck, consultant, Oxalis\u003cbr/\u003e“Clearly, Dirk wanted to grow his business in an organic way. For this, we conducted a financial audit and did a strategic analysis of the market. And we have, what did not exist prior in the company, and what is very important, introduced a pro-active management.”\u003cbr/\u003e\u003cbr/\u003e Dirk was not disappointed to have contacted Philip. Decisions were quickly made and a positive impact was almost immediate.\u003cbr/\u003e\u003cbr/\u003e Dirk Van de Velde, GM, Van de Velde Engineering\u003cbr/\u003e“In anticipation I mostly avoided the problems. But, I was also able to recruit two new workers and made 250,000 euros in investments. My turnover increased by 20% and I landed a very good customer. Everything’s worked out very well.”\u003cbr/\u003e\u003cbr/\u003e Serge\u003cbr/\u003e“Pol, there is an accepted idea that must really be changed – namely, that there is a systematic link between bankruptcies and fraud. Is this true?”\u003cbr/\u003e\u003cbr/\u003e Pol\u003cbr/\u003e“Dyzo has helped businesses for 10 years. We have helped 10,000 companies, and I can assure you, that 95% of them and their owners were acting in good faith.”\u003cbr/\u003e\u003cbr/\u003e The European Commission has presented a proposal for a directive that aims to allow troubled entrepreneurs to anticipate and restructure to avoid bankruptcy.\u003cbr/\u003e\u003cbr/\u003e It’s also a second chance for those who lived through this, allowing them to be released from their debts after a certain period.\u003cbr/\u003e\u003cbr/\u003e Serge\u003cbr/\u003e“Pol, a practical question to finish: What are the warning signs and the right questions business owners have to ask today?”\u003cbr/\u003e\u003cbr/\u003e Pol\u003cbr/\u003e“Do I pay my bills on time? Do I clearly understand the advice of my accountant? And, do I sleep well at night?”\u003cbr/\u003e\u003cbr/\u003e For more information visit Business Planet online or on euronews’ Social Media pages.\u003cbr/\u003e\u003cbr/\u003e Twitter: @SergeRombi\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='action-container flex justify-between'\u003e\n\u003cbutton aria-expanded='false' aria-label='Read more description' class='rp-full-description' type='button'\u003e\n\u003ci class='fai fa-solid fa-align-left'\u003e\u003c/i\u003e\n\u003cspan id='read_more'\u003eRead More\u003c/span\u003e\n\u003c/button\u003e\n\u003cdiv class='rp-report'\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv aria-labelledby='resource-details-heading' class='rp-info-section'\u003e\n\u003ch2 class='title' id='resource-details-heading'\u003eResource Details\u003c/h2\u003e\n\u003cdiv class='rp-resource-details clearfix'\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\u003cdt\u003eCurator Rating\u003c/dt\u003e\n\u003cdd\u003e\u003cspan class=\"star-rating\" aria-label=\"3.5 out of 5 stars\" role=\"img\"\u003e\u003ci class=\"fa-solid fa-star text-action\" aria-hidden=\"true\"\u003e\u003c/i\u003e\u003ci class=\"fa-solid fa-star text-action\" aria-hidden=\"true\"\u003e\u003c/i\u003e\u003ci class=\"fa-solid fa-star text-action\" aria-hidden=\"true\"\u003e\u003c/i\u003e\u003ci class=\"fa-solid fa-star-half-stroke text-action\" aria-hidden=\"true\"\u003e\u003c/i\u003e\u003ci class=\"fa-regular fa-star text-action\" aria-hidden=\"true\"\u003e\u003c/i\u003e\u003c/span\u003e\u003c/dd\u003e\n\u003c/dl\u003e\n\u003c/div\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\u003cdt class=\"educator-rating-title\"\u003eEducator Rating\u003c/dt\u003e\u003cdd\u003e\u003cdiv class=\"educator-rating-details\" data-path=\"/educator_ratings/rrp_data?resourceable_id=91039776\u0026amp;resourceable_type=Boclips%3A%3AVideoMetadata\"\u003e\u003cspan class=\"not-yet-rated\"\u003eNot yet Rated\u003c/span\u003e\u003c/div\u003e\u003c/dd\u003e\n\u003c/dl\u003e\n\u003c/div\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\u003cdt\u003eMedia Length\u003c/dt\u003e\n\u003cdd\u003e3:16\u003c/dd\u003e\n\u003c/dl\u003e\n\u003c/div\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\u003cdt\u003eGrade\u003c/dt\u003e\u003cdd title=\"Grade\"\u003e9th - Higher Ed\u003c/dd\u003e\n\u003c/dl\u003e\n\u003c/div\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\u003cdt\u003eSubjects\u003c/dt\u003e\u003cdd\u003e\u003cspan\u003e\u003ca href=\"/search?keywords=developing+reading+comprehension\u0026amp;page=41\u0026amp;search_tab_id=1\u0026amp;subject_ids%5B%5D=1319782\"\u003eCareer \u0026amp; 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