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The million dollar question

26-Nov-12 06:11

I have absolutely no business experiance at all, in fact I have very little experiance of being in debt, with that in mind I'm hoping someone can answer this question, when a small business finds itself a million dollars in debt why is it not just completely wiped out ? how does it manage to carry on at all ?

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joeytomatoes

29-Nov-12 22:35

negotiations...1st with lenders and vendors 2nd seeking investors... when the housing bubble burst i went to our vendors and asked for 1)extended terms and 2)more competitive pricing based on our history of payment and loyalty.... then i made the hard choice of laying off long time loyal employees and sought out 3 investors who were actually clients of ours durring the housing boom ... then i went to our lenders and proved we were a solvent company and had adjusted to the economic hand dealt us... it was hard but we survived and it is painfully slow in returning we have managed to buy out the investors percentages and once again we stand on our own....

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alley52cat

This member has been with us 10 years or more! (Joined 12.7 years ago)

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25-May-13 09:22

You want to take a look at some of the football clubs over here in the UK, many make a loss but continue in business !

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sissy_sabrina

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12-Dec-13 11:37

First define "debt". A business can be in "debt" (owe a million) but the is still covered with backings.
Most often businesses put up assets for financial backing. Also second mortgages on personal homes.

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licksipsuckit

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I Like to Reflect

now this boring

9-Mar-14 09:39

business is so boring on a sex site, unless its an adult store selling dildos and movies *lix*

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