Should A Business Owner Always Say No To Credit?

[Bisolami]

I think this is one of the questions that every business owner should be asked to know if they are fully business oriented or not. There is something that I have learned from my mom's business. I learned that there is no way we can run away from selling goods on credit. People will come to meet us because they want to buy goods on credit and there is nothing that we will do. This is just a fact.

We cannot say no to everyone who wants to buy goods on credit from us. If we do that, we are going to lose a lot of customers. We should do this sensibly. We can do it in a way that we will only sell goods on credit to the people we know very well and that we know their houses so that if they refuse to pay, we can go to their houses to talk about it or ask them to pay.

Also, you can sell to customers that you trust. Some customers buy a lot of goods so you and they always patronize you. You can easily sell to them because you know that they always buy from you.

 

[Lens1000]

It is good to always say no to credit because when you sell things on credit, it is not going to speak well for the business and the business may crumble if you sell on credit all the time because there are some customers that will not pay you back and if such thing continues, it is the beginning of the failure of that business. In order to avoid thi, you must try to sell on credit to credit worthy customers and you must also try as much as possible to eliminate credit for those that would not want to pay.

 

[Bisolami]

It is good to always say no to credit because when you sell things on credit, it is not going to speak well for the business and the business may crumble if you sell on credit all the time because there are some customers that will not pay you back and if such thing continues, it is the beginning of the failure of that business. In order to avoid thi, you must try to sell on credit to credit worthy customers and you must also try as much as possible to eliminate credit for those that would not want to pay.

If you sell things on credit, you will continue to do so and you will not be able to say no. It will affect the you to the extent that you business will go bankrupt. This is why it is very important to be mindful of how you well goods on credit.

I am not saying that you should not sell goods on credit but there should be a limit because it is not everyone who buys on credit that will pay back. I have been in business for long and I know how this works.

This is an advise to every business owner.

 

[Activator230822]

For me I think selling on credit is like a suicide for the business. I think you should avoid debt at all costs in the business. When you sell the items in cash you would be in a position to determine how many loyal customers you may be having
This is because we get to know the loyal customers when they keep on coming to our businesses and purchasing their desired goods and services in cash.

The most experienced in the business sector would say that it's better to just watch the unsold goods by the business premises other than selling them on credit.

 

[cmoneyspinner]

In the USA, your credit score can open and close doors. It's good for individuals and businesses to have good credit. There is no reason for a business owner to say NO to credit. But every business owner should make sure NOT to take on too much debt when trying to establish good credit.

 

[Bisolami]

In the USA, your credit score can open and close doors. It's good for individuals and businesses to have good credit. There is no reason for a business owner to say NO to credit. But every business owner should make sure NOT to take on too much debt when trying to establish good credit.

You are right that there is no way a business owner will say no to credit because it is possible for the business owner to lose customers when he tells them that he cannot sell goods on credit but there should be a limit to the rate at which a sells goods on credit so that the person will not go bankrupt.
A lot of companies have gone bankrupt because they sold too much goods on credit and they were not able to recover all the money that they have outside so they just had to shut down the business and it is a very common thing but it is not good