Boomer Business Owners – Has the “Credit Crunch” affected your collections?
Many business owners have said they are being affected by the credit crunch in two ways:
1. They are unable to borrow money to pay their bills.
2. Their customers are taking longer to pay.
The availability of credit is a serious problem for any small business. It’s about survival. Believe me, I’ve been there. The problem may start out as a small amount that you need, “just to make payroll,” and it grows. Pretty soon, you’re using your credit cards to put money into your company to pay your business bills and pay employees. And it gets worse. If your business has …read more