When we want to start our own business, many times we stop if we have debts on our shoulders, still to be paid. However, are debts an impediment to leading a business?
The answer is no, and it is that if we are making punctual payments on our debts, or even if we have fallen behind in them, we can still regularize our situation, reinsert ourselves into the financial system and acquire loans for our business, in the event that not yet we have the necessary capital.
Tips for leading a business if you have debt
In this publication we will provide you with some tips so that you can lead a venture.
Identify what type of debts you have
It is different to have personal debts to have business debts. However, it is necessary to find a way to settle these debts if you want to start and be successful. If you have personal debts, your monthly payments should not exceed 30% of your income per month. If you have been late in paying, it is a good idea to consider some way to regularize your situation and pay off your debt so that you can start enjoying the income from your business as soon as possible.
In the event that you do not have enough money to settle your debt, we recommend the Mi Junta de Al Día program, thanks to which we negotiate your debt together with that of other people in the same situation as you, to obtain better payment conditions . With this program, you will start saving to an individual fund protected for three, six or nine months, until you reach the total amount of your debt. When you have the necessary amount, we will help you with the debt settlement process and then with obtaining your “no debt” letter.
Learn to manage your business money
Separate the money from your business from your personal income, remember that these are two different aspects. Once your company begins to have income, it begins to reserve part of this money to a fund that allows you to have liquidity to continue growing. If at any time in the future you plan to apply for a loan for your company, do it conscientiously, that is, when you really need it and you know in how many months you can finish paying it. Ideally, you can pay it at most in 24 months.
With these tips you will be able to lead an enterprise without your debts damaging its growth.