Fremont: The history of several big and famous entrepreneurs shows that they suffered failure in their business and were forced to file for bankruptcy. Below mentioned are few such big entrepreneurs who did the same for some or the other reason.

Henry Ford

Henry Ford’s first two automobile manufacturing companies failed. The first company filed for bankruptcy and the second ended due to conflict between business partners.

Henry founded his first automobile manufacturing company the Detroit Automobile with several investors after quitting his engineering job at Edison Illuminating Company. Unfortunately, his company went bankrupt as he focused more on the engineering and ignored the idea of marketing his invention, resulting in poor sales. He was forced to quit the business in 1902 after the investors threatened to withdraw their capital.