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Does A Business Bankruptcy Hurt My Personal Credit?

YoungUpstarts

Naturally, this comes with a long line of responsibilities, including the dreaded finances of salaries and taxes. But your business life and personal life aren’t one, so you have to stay on top of your personal finances, too, no matter how intertwined the two seem. Will your business’s bankruptcy harm your own credit score?

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How to Wisely Utilize Debt for Business Expansion

The Startup Magazine

Poorly managed debt can lead to financial strain, decreased creditworthiness, and even bankruptcy. Equipment Financing: Leveraging Assets for Growth Equipment financing allows businesses to purchase or lease equipment needed for expansion without tying up capital or resorting to large upfront payments.

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7 Ways to Improve the Financial Management of Your Business

The Startup Magazine

Managing finances is one of the most important aspects of running a successful business. As a result, being unaware of regular expenses can lead to overspending, cash flow problems, and even bankruptcy. A clear plan makes making informed decisions and managing your finances easier. 4. Monitor finances.

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Key Strategies for Starting a New Business After Bankruptcy

Up and Running

Starting a business is difficult, but establishing a new business from scratch after filing for bankruptcy can be an even bigger challenge. Nothing is as stressful as bankruptcy. Filing bankruptcy will offer a fresh start and keep your debts behind you. How soon can you start your own business after filing for bankruptcy?

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David Stanger of Westmarq Real Estate Group: Short Sales Helpful Even in Bankruptcy

The Startup Magazine

A short sale is a way to limit damage to your credit if you’re facing foreclosure. Instead of letting the bank sell the home (and potentially evicting you in the process), a short sale lets you sell your business property or home for less than what you owe on the mortgage (with the approval of the lender).

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Why Startups Are Ready For A Reboot

YoungUpstarts

Companies that have managed to do this have a distinct advantage over those dependent on financing from external sources. Many startups are already tech-based, and the tech they use can help them connect with consumers and make sales online. Shelter-in-place orders have left many startups lacking ways to interact with customers.

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Financial Management: 7 Steps To Getting Your Small Business Debt-Free

The Startup Magazine

Whether you are new in business or an established entrepreneur, you need to be diligent with your finances. By doing so, you can focus on improving productivity and sales. There are several reasons a bank will reject financing applications, but the most common is a low credit score. Boost Sales and Revenue.