In the study, 58 percent of small-business owners said they relied on credit cards for startup money in 2006. The dark side: For every $1,000 in additional credit card debt, the probability that the firm would close increased by 2.2 percent. And the way some business owners can run those cards up, $1,000 is couch-cushion change.
Monday, January 31, 2011
How Credit Cards Kill Your Small Business
In the study, 58 percent of small-business owners said they relied on credit cards for startup money in 2006. The dark side: For every $1,000 in additional credit card debt, the probability that the firm would close increased by 2.2 percent. And the way some business owners can run those cards up, $1,000 is couch-cushion change.
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