Why can debt be good for your business?
Marshawn Wolley, President and CEO of Black Onyx Management, explains why debt can be a good thing in today’s Accounting and Bookkeeping segment. With proper management, he says debt can actually increase your assets and make it easier to get a business loan.
He stressed the importance of strong relationships with financial institutions and seeking financial education.
One of the things Wolley studied when getting his MBA at Indiana University’s Kelley School of Business was the positive side of debt. In his corporate finance classes, he was taught that when you get a loan or credit, you’re able to grow your business and actually increase the value of your business.
He hopes that people start to view debt as their friend and a method for growing their business, as opposed to just thinking about how they’re going to pay it back.
For more information watch the video above or click here.
This information is presented by Marshawn Wolley.