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Funding a business
How Can We Maintain A Flow Of Funds During The Pandemic?
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[QUOTE="Caramelle, post: 201856, member: 150"] [JUSTIFY]The effect of this pandemic on the economy shows all the more that we need to diversify our sources of income in order to maintain consistent cash flows amidst the uncertainties. Small businesses relying on the usually fluid money market for funds are still reeling from the credit crunch. In order to protect themselves against further losses due to loan defaults or bad debts that have become common these days, banks and financial institutions are tightening on their loan approvals and promotions. Some credit cards have resorted to the reduction of their cardholders' credit limit, further straining cardholders' financial capabilities. Relying on credit or loans to operate a business or pay for our daily expenses was never a good idea. We should, instead, develop multiple and diverse income streams that will work for us in very difficult times. This may involve investing in the acquisition of new skills. A virtual assistant, for instance, can increase her clientele by learning virtual bookkeeping and vice versa.[/JUSTIFY] [/QUOTE]
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How Can We Maintain A Flow Of Funds During The Pandemic?
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