TITLE

Managing Business Debt

AUTHOR(S)
Holland, Ron
PUB. DATE
October 2006
SOURCE
Manager: British Journal of Administrative Management;Oct/Nov2006, Issue 55, p26
SOURCE TYPE
Academic Journal
DOC. TYPE
Article
ABSTRACT
This article discusses how companies can manage their business debt. A consistent cash flow is necessary for managers to be in control of the company. The author cites his own experience with cash flow problems and his plan for getting his business debt under control. His first step was to figure out how much his company owed and how much was owed to him. He then made changes in his business to reduce overheads and increase profit margins. Making a payment plan with creditors kept them happy and gave him the cash flow necessary to pay his suppliers to keep the business going. Eventually, after several years of patience and careful action, the author got out of debt.
ACCESSION #
22986135

 

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