Even a simple case involving a very small business requires substantial planning to avoid creditor action. At court, the bankruptcy trustee will absolutely demand that you turn over any excessive funds in your business bank accounts despite the fact that you may not think of those as your property. Vehicles and tools may also be seized in some cases. Chances are your business needs to keep these things in order to continue functioning, but that is not the bankruptcy trustee's problem. His job is to collect as much as he can for creditors, regardless of whether it destroys your business.
There are ways to minimize or sometimes eliminate any vulnerability your business has in a Chapter 7 bankruptcy. It can be as simple as waiting to file your bankruptcy on a day that your business bank account balance is very low. This kind of garden-variety pre-bankruptcy planning is considered legitimate, at least when there are small amounts of money involved. Transferring away large assets such as real estate and vehicles prior to bankruptcy is viewed with suspicion and in some circumstances can lead to your bankruptcy being permanently denied.