review journal : 6 Tips for Digging Your Small Business Out of Serious Debt
6 Tips for Digging Your Small Business Out of
Serious Debt
Debt
always become creepy thing for entrepreneurship. Even LLC and corporation
considered have limited liability, but they encourage us to make our personal
assets as guarantee if business unable to do so. So that there is no way to get
off from this. This article mentions 6 ways for digging your small business out
of serious debt. These ways are check your credit report, snowball debt
payments, negotiate with creditor, hire your spouse, chase down late paying
costumer and sell off assets.
Debt becomes something helpful
resource when we start-up business. Too many debts would not good enough because
we will spend many times to payback. We should be wise when we determine to
make a loan. I agree with Ramsey who mentioned that slow and steady always wins
the race. You don’t need to borrow money to make it big. Instead, save for what
you need and then expand. It lowers risk and minimizes mistakes. But if we got
that position, we can consider these 6 ways to escape.
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