Credit Card Debt Can Bankrupt New Businesses

According to an article in the Dallas Morning News, a new study by the Ewing Marion Kauffman Foundation revealed that new businesses using credit card debt to finance their ventures are less likely to survive the first three years. The article said: “The study indicates that in many companies’ first few years, their credit card debt increases and then stabilizes. The businesses with high credit card debt close, while successful businesses start paying off their debt.” Credit cards are an expensive… More information...

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