Everybody in business understands things can go wrong, but the European Union seems to think that we're better at handling it in the UK than elsewhere. It seems our laws on bankruptcy, although more lenient than elsewhere (you're disqualified for a year in the UK, three years elsewhere) are deemed fairer.
The idea the EU wants to promote is that you should be able to fail honestly and come back. You can only hope that any new laws will be framed so that the handful of habitual liquidators, who go bust owing a fortune and then set up again in the same business almost immediately, irritating their creditors, won't find life such a pushover in future. How you achieve this while not scaring the honest entrepreneur off I don't know.
