When first starting your business, you probably never dreamed of dealing with the challenges of paying off large amounts of business debt. Researching the market and creating a powerful business plan was supposed to be sufficient to raise capital.
Capital for launching your business is usually the catalyst for overlooking debts. Unfortunately, business is like life, unpredictable and full of twists and turns. According to a U.S. Bank analyst report, 82 percent of businesses fail due to money issues.
Remember, cash flow doesn’t always equate to money coming in and out. Timing should also be taken account. If your business is based on having an invoice system, your invoices won’t be paid until after the loan payments are due.…Continue reading