A line of credit (a.k.a. a revolving line of credit, or a revolver) can be a very useful form of financing for many businesses.  Think of it as a credit card, but one that is more nuanced that has some pluses and minuses that need to be taken into account.  If you are wondering if…

Last week, we toured the left-hand side of the balance sheet, a.k.a. the assets.  This week, we will review liabilities and discuss the pitfalls and minefields that need to be avoided.   The right side of the balance sheet starts out with current liabilities- those that are expected to be repaid within a year.  All…

I am going to attempt to get a little more academic, yet keep it interesting enough that people don’t fall asleep.   In very simple terms, the balance sheet provides a summary of the assets, liabilities, and equity of a business at a given point in time.   Why is this important?  The balance sheet…

There have been many articles written about the pros and cons of doing business with family and friends.  One of the most important things people should consider before entering into a business arrangement with friends or family is what will they do if they find themselves having to make a choice between friendship / family…