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.
Showing posts with label How Credit Cards Kill Your Small Business. Show all posts
Showing posts with label How Credit Cards Kill Your Small Business. Show all posts
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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