Best ways to eliminate business debt?

Discussion in 'Growing and Managing a Business' started by MitchVicknair, Jan 29, 2014.

  1. MitchVicknair

    MitchVicknair
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    what do you think what is thew best way to eliminate business debt?
     
  2. Paul0130

    Paul0130
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    I would personally say, it is to not loan in the first place.

    Try and have a large saved fund and use that, credit is pants, never use it -_-
     
  3. daniel.stock2013

    daniel.stock2013
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    Make a budget based on your spending record. Write down the amount you spent in each category of spending last month as you budget for spending for the next month. Don't sweat if you feel like the amount is too much.
     
  4. Jmarie

    Jmarie
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    I agree, budgeting is the best way. It's not the easiest and yes, there will be times when you will need to use credit/loans. But make those times your emergencies. Once you get into serious loan commitments, you had better be sure your business is strong enough to make it through your term.
    But as far as eliminating debt you should focus on cutting unnecessary expenses, budgeting and focusing on increasing sales.
     
  5. tylerjackson81

    tylerjackson81
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    Pau10130 You are right
     
  6. candrew

    candrew
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    Bank loans and personal loans are not good. When you think about taking loans then decide what kind of loans you needed the most. Merchant Cash Advance is one type of loan which is really stress free for the business owners. It provides great payback money system which is really beneficial. Good luck !
     
  7. tylerjackson81

    tylerjackson81
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    the best way is to save money have patience and never think negative and enjoy life and the most important of all work hard.
     
  8. marriott

    marriott
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    Ya as said above budgeting will surely help you and you should also reduce your expenses to some extent.
     

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