Is credit good in business?

[Sanjeev]

I feel credit is not good in business, one should avoid selling his/her product on credit. Everyone is not honest, not all people pay your money. But the truth is to grow the business you have to sell things on credit.

 

[Stardom22]

As far as business is concerned, credit in business is not good. The business money must be put in the business so that the business can run smoothly.

 

[Starmix]

Once in a while is okay. If there is prompt payment too, any business owner would give things out on credit.

There are some people I do refuse credit simply because of their history, no matter how desperate they seem to be.

There are people who do not pay us good in return for our kindness. There are so many of them wandering on the planet. Hoping they would find a decent job to have something on their plates.

Post automatically merged: Dec 14, 2022

I feel credit is not good in business, one should avoid selling his/her product on credit. Everyone is not honest, not all people pay your money. But the truth is to grow the business you have to sell things on credit.

I agree with you, there should be a notice posted in the store for example CREDIT IS GOOOD BUT WE NEED CASH, therefore those who want to purchase on credit will back out.

 

[Hate2Wait]

We cannot avoid selling on credit and that's why we need to set ourselves a limit and should select customer which we will allow credit

 

[Reynico]

When it comes to credit and business, the answer is yes. Credit can be a beneficial tool for businesses as it can provide access to capital that may otherwise be unavailable.

 

[Hate2Wait]

Many businesses only buy on credit and they pay you every 30 days so we need to see if they are paying on time

 

[Starmix]

Many like to buy in credits because they want to buy in cash those minimal consumption.

 

[cherry123]

And there are times that I want to try to invest online. I will just invest what I can afford to lose so that I won't feel very sad when I lose money

Way to go you would be doing the right thing this way if you only invest what you can lose without regrets.

 

[Bisolami]

Way to go you would be doing the right thing this way if you only invest what you can lose without regrets.

But I don't think there is a way we can lose without regret. If I lose ten naira in this period, it will pain me

 

[cherry123]

But I don't think there is a way we can lose without regret. If I lose ten naira in this period, it will pain me

Hah trust me you are not alone. losing money can be painful

 

[LoukiaCharilaou]

I think it depends on the situation and circumstance. If you are selling food and you have a certain neighbor so hungry, it will be inhuman of us if disallow the hungry neighbor to buy in credit. But if it always happens and no single payment is made, that neighbor needs discipline by refusing to purchase food on credit. For a big sore, unless that customer already built good friendly relations, a good creditor, no reason to refuse, so it is case to case. What about your observation in your community?

I agree with you. It certainly depends on the situation. However, we must be very careful because some people may take advantage of our kindness.

 

[Magnus2022]

If you can manage your business without borrowing, better manage your business . Credit can bring a lot of unnecessary distractions and lack of concentration.

 

[cherry123]

I agree with you. It certainly depends on the situation. However, we must be very careful because some people may take advantage of our kindness.

Sure, this is why the credibility of the person should always be checked. That's the truth

 

[Starmix]

I agree with you. It certainly depends on the situation. However, we must be very careful because some people may take advantage of our kindness.

That's right and in fact, I was once a victim of this. Somebody purchased my stuff shoulder bag but until this day, no payment. It's almost 5 years. I can't reach the person who was once a friend of mine.

 

[LoukiaCharilaou]

That's right and in fact, I was once a victim of this. Somebody purchased my stuff shoulder bag but until this day, no payment. It's almost 5 years. I can't reach the person who was once a friend of mine.

Oh, I am so sorry about that. We must be very careful.

 

[cherry123]

That's right and in fact, I was once a victim of this. Somebody purchased my stuff shoulder bag but until this day, no payment. It's almost 5 years. I can't reach the person who was once a friend of mine.

When you sell on credit you should always expect bad debts because a lot of people wouldn't pay at the end of the day.

 

[Starmix]

It's what kn business there's good and bad debtor. But there are only few bad creditors. They're thinking there's no one to run to in case failed to pay.

Post automatically merged: Dec 15, 2022

Oh, I am so sorry about that. We must be very careful.

I learned a lesson out of that bad experience.

 

[cherry123]

I knew this right from when my aunty was scammed by her own friends and they helped to fail her jewelry shop. Selling on credit is dicey

 

[Bisolami]

Hah trust me you are not alone. losing money can be painful

Losing money is one of the most painful things
Even when you can afford to lose what you have just lost

 

[cherry123]

Losing money is one of the most painful things
Even when you can afford to lose what you have just lost

That's the truth, even when you can afford to lose but the truth usvthst that wasn't the intention in the first place