How to avoid running bankrupt

[Carpon]

Many businesses have gone down already and many are still going down because they went bankrupt as a result of one or more dispositions that the business owners and managers have showcased.

In this thread I will talk about some few things that one can do to keep his or her business afloat and avoid the state of running bankrupt.
First and foremost avoid giving out in credit. This does not mean you should not give out goods on credit but be careful and know the sort of people you allow to make credit transactions. There are people who are potential bad debtors and giving goods to them on credit will be like gifting out your good and that tends to break your capital making you go bankrupt.

Secondly, adopt the habit of savings. Savings will be a resort for you when your capital is breaking and need funds to sustain your business and keep it going. You can use your savings to fund the business and keep it from going bankrupt.
More so you must avoid using your business funds for purposes that are not directly having effect in the business. Don't engage in Ponzi schemes and make sure you keep your business safe from such stuff.
What other ways do you suggest. Pls share.

 

[Jasz]

How to avoid running bankrupt is a question everyone should be able to answer. It’s a question that has been asked by many individuals who have had their personal finances destroyed by financial problems, including:

- Business owners

- Homeowners

- Unemployed people

- People who are suffering from medical issues and need expensive surgeries or treatments that they cannot afford. There are also many other situations where people run into trouble with their finances, so it is important to know how to avoid running bankrupt.

In order for you to avoid running bankrupt, there are some steps that you should take. Save a lot and you should ensure that you do not take on too much debt when it comes to your finances. If you do not have the money in the bank, then it will be very difficult for you to pay off your debts when they come due. As soon as possible, try and find out what types of loans are available through banks and credit unions so that you can get them at a lower interest rate than what others would charge for similar loans.