Posts Tagged ‘Online Bookkeeping’
Credit Card – Americans Rely on It.
As per to the National Small Business Association, 59 percent of America’s small businesses rely on credit cards for every day operations. This number is nearly triple what it was just 15 years prior! Over the last six months, credit limits were cut abruptly and now – leave about expanding – business owners have to search other way to just stay afloat!
Over the last few years, there was a push for small business toward credit cards - good deals, great marketing, no interest, incredible rewards – and at present, several are stuck. With the onslaught of surprise limits, several proprietors are reverting back to the previous school techniques of running a business: cash. Who knows? Maybe a little taste of traditional business is exactly what we require. As with many things, only time will tell.
For a certain perspective on the reduction of credit lines for small businesses, check out, Is the Credit Card Squeeze a Blessing in Disguise?, in which Jay Goltz, business owner and contributor to The New York Times, on his “You’re the Boss” blog, explicates that cutting credit for small businesses might not be the worst idea. He recommends against carrying a balance no matter the scenario, and gives some suggestions on how to avoid such a situation. Definitely worth checking out!
At Rimberg Online Bookkeeping we have skilled bookkeepers, accountant and CPA’s. We work with you to make a point that you know where you’ve been, and where it is you’re going. As our motto says, it’s “Our Solution, Your Success.”