Despite the negative connotations linked to it, debt can actually be a useful financial tool for small businesses. Businesses can use debt to hire new employees, buy necessary equipment, and even finance expansion plans. According to a survey on Small Biz Genius, at least 70% of small businesses have outstanding liabilities. However, if you fail to properly manage your debt, you run the risk of accumulating exorbitant interest fees and endangering your business.
There is no way to sugarcoat it: buying a house for the first time is overwhelming. There are many factors you need to consider well before you decide between a split-level rancher or a chic city condo. We’re going to take a look at what’s the best financial advice you’ll need to know before buying your first home so that by the end of this article, you’ll be prepared to enter the housing market for the first time.
Let us begin by asking a simple question that has several complex answers.
There is a lot of pressure on small businesses to do well after their launch. Within the first two years, roughly 20% fail, while 45% do so within a five-year time frame. And following the events of 2020, their vulnerability has only been emphasized. Last year, Bloomberg reported on predictions that small business bankruptcies will increase by 36%.