To learn more about business debt and how to get out of business debt on Emily’s site: my business apps, books, and courses, check out: people get into business debt it isn’t easy to get out of it, but Emily gives a number of options for getting out of business debt. The solution to business debt has a lot to do with how you originally got into debt. If you took on debt to start your business, the path to get out of that business debt is different than if you continue to take on business debt as you operate your business.
Fundamentally, what you have to figure out is whether the business is viable long term because if the business is not viable, and keeps accumulating debt, the business may have to be rethought.
If the business debt was just a small loan to get the business started, and the business is viable, then there are some good options to get out of debt. Emily suggests taking a look at your cash flow and the amount of debt you have, and to consider whether you may need the cash for flexibility.
There are more details on how to get out of business debt and stay out of debt in the video.
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