Payment innovations are increasing. New technologies like cryptocurrencies are emerging, while the smartphone revolution is beginning to make traditional card payments look dated. But what does this mean for your business?
There’s good business debt and bad business debt. Good debt has low rates, long terms and manageable payments. Bad debt, like credit cards or lines of credit, has high rates, short terms and payments that cut into cash flow.
As a small business owner, you might not think that your personal credit score is important. However, a good personal credit score is required is you want to secure low-cost funds to pursue business building strategies.