GaryBarzel commented on the following stories on BizSugar
I think that last issue about business lending is really just a result of the first three issues. A lot of small business owners I know are too afraid to invest in any real growth. This includes hiring additional workers or buying equipment. Alternative lending is expanding because many businesses don't have good credit ratings or high enough sales- pre-requisites for a bank loan."
I agree. Bankruptcy is a last gasp action to take when all else fails. It's very hard to break free from a bankruptcy. It will haunt your credit report for several years making it hard to access financing. "
Hahahaha... This is so true! And the list of places where "crowd wisdom" goes awry is ridiculously numerous- sports shoes, summer clothes, health and medicine. And many big corps out there are capitalizing on this mass ignorance effect. "
Hi Heather, True. One of the advantages of running a small business or working as a self-employed professional is the ability to be flexible. The point to all of this is that the bank or even an online payment processor like Paypal are not the only options. If you are running a small business and need to access your revenues or manage your capital without losing and arm and a leg, there are many services that can potentially help. "
The point about maximizing equipment purchases is very important. Many small business owners try to lease equipment in an effort to preserve cash flow. But often they would end up saving more money if they would purchase the equipment outright and then claim the sec 179 tax deduction."
« previous1 next »