Managing business debt effectively is critical for maintaining financial health and ensuring the sustainability of a business, HLB Mann Judd has warned businesses in a recent article.
With businesses facing tougher business conditions, the accounting and advisory firm said its important businesses have a solid debt management strategy for all the debt in the businesses including short-term loans or long-term liabilities.
“Debt can be a double-edged sword. It’s crucial to distinguish between good debt and bad debt, as each can have vastly different impacts on your business’s financial health and growth potential,” the firm said.
Good debt has the potential to support the business and enhance its ability to…
