Payday loans hold undeniable allure. The cash arrives immediately, without a credit check, and the loans can be repaid as soon as the next payday rolls around. But the ugly truth is that payday loans are traps laying in wait for those who are desperate for cash.
Launching a new business almost always carries some element of risk, but when personal assets are being used to finance the business, the risk factor can increase dramatically. With credit markets currently at a virtual standstill, tapping your personal assets to fund your business may seem like a quick and easy way to access the required capital without having to give up part of your business to a venture capitalist or angel.
Inevitably at some point, even the most frugal of business owners will find themselves having to borrow money to fund their business’ operations or growth. When it comes to business finance, especially via “traditional” sources, such as bank lenders, creating and maintaining a strong business credit profile is a must. For that reason it is vital that business owners separate business credit from their personal credit profiles.
While working from home may come with numerous benefits- especially for the frugal entrepreneur-trying to find a suitable space for a home office can be frustrating. Ideally, such a space would not encroach on family living quarters, like the kitchen, the living room, or an occupied bed room, and it would be a separate area designated specifically for business use.