4 Financial Tips to Lower Your Debt When Running a Small Business

Managing debt and financial obligations is top-of-mind for every small business owner. While you want to minimize your expenses and liabilities, you also need working capital in order to maximize your assets and income. Here are some tips to help you lower your deficit and stabilize your finances while at the same time, growing your business:

  1. Draw a better picture of your debt.
  1. Be strategic about debt reduction.
  1. Find a way to increase income or sales and decrease expenses.
  1. Explore debt reconstruction.






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About the author

Karen Watson, Balancing Books Bookkeeping
Karen Watson, Balancing Books Bookkeeping

Karen is a professional bookkeeper who loves numbers and her job. She currently works for Balancing Books Bookkeeping. In her spare time, she enjoys spending time with her husband, traveling, and reading.


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