You didn’t start your small business to be a bill collector, so none of this is anything you want to do. However, sometimes it becomes necessary. Don’t shrink from your financial responsibility to your business.
Managing a small business within itself is a hard task, but add financial responsibilities into the mix and it’s a whole other beast. Money management is one of the areas that most businesses struggle with the most.
One problem I see all the time is businesses financing their short-term assets improperly, which greatly increases the risk to the firm and can potentially even cause it to fail. This is a serious issue, but it can be remedied by choosing an alternative financing method.
Small businesses rely on credit card sales and payments to grow and move forward; however, many small business owners can feel the weight of high credit card processing fees pushing down on them, especially in lean economic times.
Small Biz Club is the premier destination for small business owners and entrepreneurs. To succeed in business, you have to constantly learn about new things, evaluate what you’re doing, and look for ways to improve—that’s what we’re here to help you do.