A small business owner should avoid borrowing money when he/she sees a downturn in business or to refinance existing debt.

Question

Quizplus · Accepted Answer

Borrowing money during a downturn can provide the necessary capital to keep the business afloat, cover essential expenses, or pivot the business model. Refinancing existing debt can also be a strategic move to lower interest rates or consolidate debts, potentially improving cash flow and financial stability.

A Small Business Owner Should Avoid Borrowing Money When He/she