How Can Businesses Managing Debt

[Nomad]

Debt is a common issue ion business, that’s because a lot of businesses are funded through a loan. However, for small businesses, debt creates big issues, it is not just about repaying but also cash flow. One way to manage this is by trimming expenses, adjusting prices, or increasing service, or product prices. Collect your due payments on time, avoid extending credits to the customers, and reduce unnecessary costs like excess staff. These steps can help you manage debt more efficiently and stabilize your business.

 

[oliver991]

Good tips, but "adjusting prices" in a competitive market? Dangerous move. I tried that and almost lost my regulars. When I was drowning in business debt, I realized I needed a legal heavy hitter, not just a spreadsheet.