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Bad debts in business
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[QUOTE="Rachael, post: 217026, member: 68963"] Bad debts in business usually emanates when a loan collector is unable to repay the loan he collected. Bad debts in business is one of the fastest way of crippling the growth of a business. This is the more reason whereby people who are experienced do not advise or recommend taking of loans most especially in startups businesses. It is unfortunate that at times, an individual would have the business idea but the barrier comes from lack of startup funds or capital and this leads to no other alternative available than to collect loans. There are other forms where capital can be raised both for new and existing businesses but people seem to choose taking loans to other alternatives due to the ease which is involved. Crowdfunding, where you pitch your business idea to the public and call for support and donations is a way out, empowerments which could come either from the governments or philanthropist, where a platform for entrepreneurs is being setup to pitch their ideas and the winner is being empowered with startup funds. Government empowerments could come in the form of grants especially for low income earner and agriculturalists. Again, we should be creative in always balancing both earning profits and repaying the loan so it does not get too choked up or pressurizing. [/QUOTE]
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