Small Business and Personal Debt Settlement – Why is it So Important?
Why is it essential to get rid of your personal debts if you want to run your small business properly? One of the biggest advantages of running a small business is that you can avoid all formalities and technicalities. You can use your personal credit card to make any payment for your small business without being answerable to anybody.
You can withdraw money from your business and repay your credit card debt with no questions asked. This gives you the ability to exploit business opportunities better.
However, this interrelation between small business and personal debt can also work to your disadvantage. If you are over drawn on your credit cards and if lenders are putting pressure, you may develop the tendency of pulling money out of your small business to repay these debts.
This is not a smart move because the money that you have earned from your …
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