The Trap of Extending Credit
The crux of the issue on this past Great Recession was credit. We all overextended ourselves by borrowing too much and we all over extended ourselves by lending too much. Both sides the debtor and the financier were at fault here. So what are the lessons learned for a small business? My business FMW Fasteners is a small regional distributor of fasteners serving the construction and commercial applications industry – an industry hardest hit by the recession. Like everyone else we had many customers …
Source : Fastenerblog.net – Read the full Article via Fastenerblog.net: One Distributor’s Approach to Credit Issues.