As the owner of a small business, it is a good idea to keep up with news about interest rates — even when the news is not great. While the rise in interest rates is designed to help curb inflation, it can also mean that taking out a loan can cost more, which in turn may negatively impact your small business.
To help plan for a successful 2023, despite the rise in interest rates, consider the following suggestions:
Assess Your Loans
If you are currently paying off a balance on a business credit card, the amount you are paying for interest will probably increase.…Continue reading