Solution to bad debt in small and medium scale businesses.

[Suba]

After various attempts to collect accounts receivable, bad debt is considered an expense and reduces profits. In the balance sheet of accounts receivable credit with bad debt expence, companies can use the direct method or the reserve method.

 

[Mawome]

If you are the type that really sell instead of saving money to pay off your debt, you save to spend maybe with your women and some of your male friends, I tell you it will be difficult to save some money for your self talk more of paying bank the one you borrowed

 

[zahidhussain]

I think adobting a good stratge will avoid the bad debt bad debt means the money that give you someone to improve their income best way to advoid bad debt make conictivity with debter and small buisness

Post automatically merged: Mar 7, 2021

I think adobting a good stratge will avoid the bad debt bad debt means the money that give you someone to improve their income best way to advoid bad debt make conictivity with debter and small buisness

 

[DareIsrael]

Bad debt is used to describe a situation where debtors can not pay back their loan or money for goods or services rendered to them in good fasen fingered as a culprit in pulling down small, medium and even large scale businesses in every part of the world.
If a small or medium scale business is hit by bad debt

Thanks for this definition. I actually came to this platform solely for money but gradually, I can say I have learnt one or two things from here. Mostly topics on forex and crypto currency trading.

 

[btaliat]

I will even advise a small scale business man not to involve in credit facility till the business grows if at all he wants to involve in it. But if he thinks that's the only way to attract customers, he should be doing this from his personal money.

 

[Sanusi]

To me personally if an individual wants to borrow money or lend money he or she needs to be sure of the kind of thing he wants to improve or develop in his business which will give him a higher income. So for me business owners needs to put some things into consideration in order not to have a bad debt.

 

[Victor72]

I don't think a mini business can be hit by bad debt, and if a mini business is being hit by bad dept I suggest the owner should get a loan in other to help the business financial

 

[Heatman]

I don't think a mini business can be hit by bad debt, and if a mini business is being hit by bad dept I suggest the owner should get a loan in other to help the business financial

Small businesses are very easy to start and manage because they are set up with a realistic budget that wouldn't be too difficult for you to access and keep in check.

 

[joy101]

I think the best solution for the debt it to give the person time when to pay the debt back, because selling in credit in your business will bring down the business.

 

[Heatman]

I think the best solution for the debt it to give the person time when to pay the debt back, because selling in credit in your business will bring down the business.

I have come to realize and understand that there is no way you would never be selling your business products and services on credit to some people. You only have to limit it.

 

[Richard92]

The best solution to bad debts in small business is to allow the customers know that you don't give credit and you don't sell on credit. This will save your business stress

 

[Heatman]

Seriously, every one who operates one kind of business or another would definitely wish that this would be possible but it's actually not because you will sell on credit.

The best solution to bad debts in small business is to allow the customers know that you don't give credit and you don't sell on credit. This will save your business stress

 

[Richard92]

I think the best solution for the debt it to give the person time when to pay the debt back, because selling in credit in your business will bring down the business.

The best solution to bad dept, is never give dept, make it known to your customers that you do not give dept, and they will know and put it to work.

 

[Mostee501]

Bad debts by clients can cause the financial institutions to fold up. Solution to bad debts is to involve the security measures taken for such purposes in the loan agreements and might lead to jail term.

 

[Kelly5]

If you have ever been hit by the adverse impact of so many bad debts in your business, the way forward form that point is to see that you avoid it at all costs and build up your business back up first. Let customers hence forth pay for goods before collection or no deal

 

[Chibson]

Debt is something I have been avoiding for a very long time and people also need to have for bad debts. Bad debts can plunge the business owners and also make it not to progress.

 

[Heatman]

From my experience with being in small scale business for my family for over 6 years now, it's practically impossible for you not to sell on debt to your customers, just have proper record.

 

[Spicywilfred]

in a small or mini business I don't think it is advisable for anyone to give out products on credit it is good for you to collect your money immediately after sales this is the only way to avoid bad Dept

 

[Heatman]

Well, in most cases small businesses don't really have debt challenges unless it's on rare occasions when the business funds are misused before it takes it toll on the business.

 

[FreshKaz11]

Bad debt is used to describe a situation where debtors can not pay back their loan or money for goods or services rendered to them in good fasen fingered as a culprit in pulling down small, medium and even large scale businesses in every part of the world.
If a small or medium scale business is hit by bad debt

I think the only way to pay back small loan using for business,is to be more active on the business doing and make sure you get more customers to the business and make sure you give them the good services ever and lastly make sure you got all the outstanding payment on time as well.