Is credit good in business?

[Bisolami]

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

Simply because the intention is to make money from it, you still feel sad if you lose your money into that investment

 

[Enxx]

I a very angry at him and he's making me regret why I chose to lend him the money. I won't try that next time

That is why I don't borrow people my money. I only give them what I can dash them

 

[Bisolami]

That is why I don't borrow people my money. I only give them what I can dash them

Presently I don't have any money and if I have money I will not lend it to people because it is likely for them not to pay back

 

[cherry123]

Simply because the intention is to make money from it, you still feel sad if you lose your money into that investment

Exactly, even if it is money you can afford to lose . it will sti be painful as your intentions was to double your money.

 

[Bisolami]

Exactly, even if it is money you can afford to lose . it will sti be painful as your intentions was to double your money.

Yes ooh
I remember sometime ago that I tried to bet and I ended up losing the money. I cried

 

[flower]

One of the films that will kill your business very quickly is when you sell.your goods on credit.

 

[Niyi Briggs]

It is not bad to give credit to customers who you trust that they would definitely pay you back. I don't mean people whom you are not sure of.

 

[hastral45]

Credit is good but should be managed very well. Not all customers would be able to pay for their goods. But credit should only be allowed to good customers.

 

[Chibson]

That may actually be a tricky situation, but as a business person you have to make it clear that you don't give things on credit. That can be detrimental to your business success.

 

[riberet19]

I believe that credit should be avoided whenever possible, I believe that it is better to try to have your reserve or emergency funds before going into debt

 

[Bisolami]

It is not bad to give credit to customers who you trust that they would definitely pay you back. I don't mean people whom you are not sure of.

It is very sad that the people you sometimes Trust will still be the one that will disappoint you so just be careful of how you sell your goods on credit

 

[Starmix]

Some people in my city love to use their credit cards without any limitations. I think it is a good business because they will be in terrible debt. For me, I never had one and not my option to have.

It's so crucial to have debt especially from the bank for it charges double once failed to pay in a month. If the debtor cannot pay the property that is served as a collateral will be confiscated.

Post automatically merged: Jan 17, 2023

Credit is good and useful to get more business but if you keep giving things on credit then it will be tough for you if you are unable to recover those funds

Credit is good but we need cash. Let us not get used to credit. It may become our bad habit that despite we have money, we opt to borrow because we want to see our money all the time

 

[uptrendfinancialsignal]

Credit destroys business and it shouldn't be allowed.

 

[cherry123]

Sure ,Credit destroys business and the owner of business should know this and try to avoid too much credit sales. Credit sales make the business money to be tied down by debtors

 

[Chibson]

Sure ,Credit destroys business and the owner of business should know this and try to avoid too much credit sales. Credit sales make the business money to be tied down by debtors

Definitely, this is one of the major reasons of people do not like selling their products to their family and friends because they may always demand credit sales which may affect the business on the long run.

 

[Bisolami]

Credit destroys business and it shouldn't be allowed.

So much of credit in a business will surely destroy and make the business go bankrupt so it is something that every business owner should avoid

 

[Heatman]

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?

If it's possible for me to eliminate the selling of my business product and services on credit, it is something that I will be open to doing because it doesn't help a business at all in any way.

 

[Starmix]

Those who purchased on credit and didn't bother to pay cannot anymore come back and if meet them somewhere, they cannot look at me straight to my eyes, They will see my tiger look.

 

[Bisolami]

If it's possible for me to eliminate the selling of my business product and services on credit, it is something that I will be open to doing because it doesn't help a business at all in any way.

It is something that a business owner cannot do without but we should make sure that we do not sell too much of our goods on credit so that we will not go bankrupt

 

[RicAngelo]

Indeed @Bisolami giving credit to customers are not for business, if we give customers that they will drag us into something bad, been there done that, and still i dont get my money until right now (its a lot of money for me), Always say NO to credit even the customers are someone we know