Eliminate personal guarantees on government-provided guarantees.
Germany has state entities that provide government guarantees to banks (burgschaft) for startups to enable them to loan money but then when you inquire it turns out that those are guarantees to the bank but the entrepreneur is still personally liable.
If the state wants to promote risk-taking, it shouldn’t bankrupt those who do as a principle.
Log in to comment and vote
No comments yet
Be the first to share your thoughts.