Financing, is for enabling. It is always associated with a need, or want:
In a world, as I suggest, where there are no tax-collectors, there may be no "state-supported" investments, either. The concept of "state money" is non-existent, here, and you do not "let state do it." The human needs, are rather smoothly self-financing, while we are already having the finest strategies for education, defense, etc. When you are learning what to do, you are meanwhile reading how it is financed.
No need for loans. No need to go into big calculations. With your (existing) money, you may pay for the next little bit of service/functionality, as you prefer it. Or else, if you do not have any more money in your pocket right now, then you live on, at the level you have attained already, until the next time you make money again. With your pleasure for developing yourself, the probability of earning is improvable, too.
Bankruptcy means to lose what you do not own, too. i.e: It gets worse and worse. Usury/loans, taxes, and/or litigations may cause bankruptcy.
The taxes and loans do not exist in this world-view.
A litigation, is not specific to a firm, or the people. And in a fair-world, I may not mention a litigation, as a business-issue, at all. The rightful may get, the unrightful may pay. No problem. Keep yourself rightful, and plan to avoid (unrightfully) hurting people.
In the firm-finance model that I offer, a firm may (almost) never go bankrupt, although it may lose a percentage of its budget. e.g: As a type of fun, financing a risky venture, with a fraction of your money, is thinkable.