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View Diary: Not All Small Businesses Need Loans for Payroll! (85 comments)

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  •  Well That's a Philosophical Difference (3+ / 0-)
    Recommended by:
    Nellcote, pale cold, janmtairy

    ....and one that you're entitled to.  That people who don't share your philosophy should "fire some people or close their doors," is another philosophical difference which you're entitled to, but it strikes me as a somewhat shortsighted one.

    If spittle & tooth=vigor & youth Bill-O & Savage won't grow any older If wishes & dreams=bitches & beams We'll all live in skyscrapers bu

    by TooFolkGR on Tue Apr 21, 2009 at 07:46:39 AM PDT

    [ Parent ]

    •  Realistic is what is is (1+ / 0-)
      Recommended by:
      ctkeith

      I grew in baby steps, took calculated chances, had quite
      a few loans, but always for expansion or equipment.

      I always considered payroll must stand on it's own.
      Take it from someone who did the work themselves
      for 6 years before we hired any help, then grew pretty
      steady for about 15 years.

      Payroll is the biggest expense I have, and it could bury
      my company, it is a tricky proposition. That doesn't mean
      I haven't had to dip into a reserve fund to cover the payroll
      a couple of times.  But I can't let it bury me, after 30
      years, I am getting long in the tooth, and need to save
      for the nursing home I will need someday, seriously!

      •  It Is Realistic For Your Situation (4+ / 0-)

        ...and for your business.  It's the bit where you project it onto every small business in America where you're being unrealistic.

        If spittle & tooth=vigor & youth Bill-O & Savage won't grow any older If wishes & dreams=bitches & beams We'll all live in skyscrapers bu

        by TooFolkGR on Tue Apr 21, 2009 at 07:56:34 AM PDT

        [ Parent ]

      •  Well, I have a small business and (4+ / 0-)
        Recommended by:
        badger, pale cold, chrome327, sharistuff

        I use credit from time to time to cover gaps between when an account comes in and the receivables arrive.  But what I've been trying to explain to people is that credit is irrelevant to me if there are no accounts coming in.  It is the work that drives my need for credit.  If there is no work, I don't need the credit - unless of course I intend to just live on credit without any work to service the debt which would be a bad idea I think.

        •  Exactly (0+ / 0-)

          When business is good, we have no cash because it's all in receivables. We worry when we have cash on hand, because it means we haven't had a lot of sales.

          Je suis Marxiste, tendance Groucho

          by badger on Tue Apr 21, 2009 at 10:09:00 AM PDT

          [ Parent ]

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