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Let's face it -- not every small business is going to make it. And those that don't can normally claim some protection in bankruptcy, if necessary. Well, those that also don't sell marijuana, that is.

The Tenth Circuit recently held that debtors in the marijuana business can't obtain relief in federal bankruptcy court. Here's why:

Entrepreneurs are an optimistic sort, so it may be hard to admit that your small business needs to file for bankruptcy. But even the best of us go bankrupt, just ask 50 Cent, Kodak, and the company that makes Twinkies.

There are a few options for small business bankruptcy, and here's what you can expect if you file for Chapter 11 or "reorganization" bankruptcy.

Colt Defense, LLC, one of America's oldest and most storied companies, filed for bankruptcy this week. It seems impossible that such a historic brand (and a gun manufacturer in America at that) could go bankrupt, but bidders weren't exactly chomping at the bit for the company when it went up for auction.

If it can happen to Colt, it could happen to you. So what can small business owners learn from the legendary gun maker's mistakes? Here are 3 lessons:

When the debts start piling up, you may have to consider bankruptcy.

Bankruptcy may sound appealing. You get the creditors off your back and your debts discharged. Sure, it destroys your credit, but that can be rebuilt. However, what about your business?

What can happen to your business if you file for bankruptcy?

Say it ain't so! SkyMall, the ubiquitous in-flight shopping catalog, filed for bankruptcy protection Friday. While seat-back pockets will never be the same, the company's ordeal offers some legal lessons for business owners.

SkyMall's parent company, Phoenix-based Xhibit Corp., "suspended its retail catalog operations" last week, Reuters reports. Staff layoffs, meetings with creditors, and court hearings are on the itinerary as the company makes its way through the bankruptcy process.

What can small business owners learn from SkyMall's bankruptcy filing? Here are five takeaways:

Which Debts Can Be Discharged in a Business Bankruptcy?

If your business is falling hopelessly behind on paying its bills, filing for bankruptcy may be the best option for getting rid of your business' debts.

But which debts are discharged in a bankruptcy? And maybe more importantly, which debts aren't?

Should your small business file for bankruptcy? If you find yourself asking this question, you're not alone.

Filing for bankruptcy doesn't necessarily mean throwing in the towel. On the contrary, it may just mean a fresh start for you and your business.

Here are five factors to mull over when deciding if your business should file for bankruptcy:

NFIB's Business Credit Card: Read the Fine Print

The National Federation of Independent Business has unveiled a new business credit card -- but is it a good deal?

The NFIB Business Edition MasterCard, offered by the First National Bank of Omaha, promotes itself as a "business rewards card built for NFIB members by an NFIB member."

Though the NFIB-branded card boasts a number of perks -- namely, attractive rewards points and no interest for the first nine business cycles -- the card lacks basic borrower protections offered to personal cardholders under the CARD Act, according to Bloomberg Businessweek.

New companies don't always become roaring financial successes. Unfortunately for many small businesses, bankruptcy will be a reality.

Take heart, small business owner, there are several ways in which a company can declare bankruptcy. Depending on your company's financial situation, knowing the differences can help you get your business up and running again.

Which type of bankruptcy will work best for your business? Here's a general overview:

How to Avoid Burnout as a Small Business Owner

As the owner of a small business you are literally the key to the whole company. You provide the inspiration, the final say in business goals, and the raison d'etre.

You might think the most important business strategy is to maximize income or efficiency. But really what's most important is keeping the heart of the business going strong. That means you.

Work burnout is a real risk for small business owners who put more than just their time and money into their companies. If you want your small business to succeed, and of course you do, make sure that work is always a joy and you're excited to come back and do it again every day.