Mika
VIP Contributor
Small business means a business that is not selling a lot of products, has small revenue, and has been started with a small investment. Small businesses most of the time face funds shortages, therefore, they are likely to borrow money, which causes them to face a repayment challenges. Small businesses struggling with debt can explore various solutions. Cutting expenses, adjusting service fees, and increasing product prices are viable options. Small businesses can also collecting payments promptly and discontinuing credit sales can contribute to overcoming financial challenges. Cutting staff is also another way to cut the operational cost so that they can have additional money to pay debt.
