How have you been able to avoid bad debt in business?

[Shigobad2020]

Avoiding bad debt in business means not going into debt or going to any kind of loan which you know you cannot afford to pay back during the time of repayment at all.

 

[Syldan]

Actually debt is inevitable in every form of business. it can not be completely erase but to some extent it can be managed when the appropriate strategy is employed.

 

[Setho]

Before I came into the business space I was aware of what about that has been able to do to a lot of people and I tried as much as possible to avoid that. I did this by not offering any kind of debt that I think I cannot cover automatically.

 

[Shigobad2020]

Before I came into the business space I was aware of what about that has been able to do to a lot of people and I tried as much as possible to avoid that. I did this by not offering any kind of debt that I think I cannot cover automatically.

Thats the main reason why you need to make some necessary research before starting a business , you need to know some dos and don't in other to avoid getting into problems in business,

 

[Lens]

When you have Bank loans with interest accumulating, you will not be able escape bad business debt. The best way to avoid the bad debt is not collecting loans for business funding.

 

[Josephjossy]

The best way to avoid Dept in business is to know how to manage a business you are into, you need to know what will work best for your business. One of the reasons one many people are in dept in business is because they mismanage the business

 

[Syldan]

Actually debt are inevitable and they can not be avoided though I have not personally started my own business but to some extent I have little experience about it.

 

[Setho]

I believe that the straight-forward way of avoiding any kind of bad debt in your business is to not allow it in the first place. You should create your business with a policy of cash and carry basis only.

 

[glitch]

I never overspend. Similar to good stock investing, you only put out what you are willing to lose.

I know plenty of leading businessmen of today had to lose just about everything before their had their big break but that is rare so you have to be smart with your money.

 

[Lens]

It will be very difficult to avoid bad debt in business If you have taken a loan. The loan will.moy give you the opportunities to avoid debt from accumulating because loan is a very bad thing.
I have really learnt how to avoid bad debt by not taking loans to carry out business. The major thing is that one would be able to make a very reasonable amount of money by not taking loans.

 

[Ononivami]

I was able to avoid bad debt in my offline business because I needed to stopped accumulating debt which could lead to closing down my business. I try not to take loans.

 

[zelalem]

Once you know your company's financial position, you cannot borrow money from your company. You don't want to exceed your company's capabilities. Doing so creates debt and negatively impacts the sustainability of the company.

 

[Smiles20]

You are definitely not going to be worrying about bad debt if you are not going to be giving out debts in the first place. This is why I usually try to operate my business strictly on the basis of cash and carry.

 

[Ononivami]

The best ways to avoid bad debt is by not taking loans . You will be able to live and work freely if you do not run any debt whatsoever. I have seen different ways people accumulate debt.

 

[Monster Masterpiece]

Each month you have to save a little from earnings so by end of year you have some funds then you will avoid bad debt of case if the company is losing in a certain period of the year.

 

[Sotherefore]

All those things require discipline and determination . some business owners are always so strict that they do not give out goods on credit , this is not really to make you look foolish but they are just looking for a way to save their business from bad debt.

 

[Sincerem]

Simple truth here is to avoid spending money on the wrong things, a little fun and pleasure is not a bad idea but at what cost? when you know that there is no available means you can be able to pay off those loans but you keep borrowing until you become totally ruined.

 

[Setho]

The easiest way of avoiding bad debts in businesses by not giving any kind of depth at all. Anybody who wants to buy should have cash at hand or should be able to set up an automatic payment plan.

 

[Syldan]

Personally I have always consider debt as inevitable in every form of business which to some extent it can only be control or manage but it can not be totally avoided no matter how.

 

[Shigobad2020]

The only solution and ways in which you can avoid bad debt in business is by trying not to give room for any sort of debt either you running your business with loan which you cannot pay back or giving out your product to customer on debt.

The easiest way of avoiding bad debts in businesses by not giving any kind of depth at all. Anybody who wants to buy should have cash at hand or should be able to set up an automatic payment plan