Not all debt is bad, in fact debt can be a powerful tool that small businesses can utilize to grow. In this episode we discuss way to avoid the bad debt and find find good debt.
Uncover the key distinctions between good and bad debt that can make or break your business. Learn how bad debt, like unnecessary loans for tax purposes, can lead to financial pitfalls, while good debt, such as leveraging low-interest loans, opens doors to financial flexibility and increased income.
Discover the smart strategies businesses use to leverage real estate investments and responsibly use credit cards and lines of credit to bridge financial gaps. But wait, there's a catch! To master debt management, businesses need a solid long-term strategy aligning with their growth or wind-down plans. Find out why overleveraging can be a risky game and the lessons learned from the 2008-2009 recession.
Ready to unravel more financial wisdom? Tune into this episode of Kaizen Time for essential insights into navigating the complex world of business debt. Remember, good debt creates opportunities, bad debt leads to difficulties, and a realistic repayment plan is your key to financial success.
Do you have questions or topics you'd like us to cover? Send us an email: bsb@kaizencpas.com