Avoid Credit Card Financing

A recent study found that credit card usage to keep small businesses, including home-based businesses, afloat can be deadly to their well-being. "A recent study by Robert Scott of Monmouth University found that every $1,000 increase in credit-card debt increases the probability a firm will close by 2.2 percent," Alan Zell posted in SCORE's online Listserv, as quoted in a Herald-Tribune story about credit-card financing.

"Credit cards are more prevalent for funding start-up businesses because traditional sources of financing have become less available during the Great Recession and financial meltdown," the article says.

Instead of using credit cards for your at-home business, consider saving money before expanding, cutting expenses to the bare bones and growing your business slowly. I offer more ideas on how to finance your home-based business in my book, Hired @ Home.

Until next time,

Sarah

Juggling Act

Most women wear many hats, including work and mommy. I'll be doing a presentation on "How To Juggle Work With Family Life" during the Mommy In Training conference on Saturday, April 24, in Alexandria, Va. The conference is chock-full of helpful seminars on being a mother, so if you're in the area, please stop by.

For more information, visit the conference Web site.

Until next time,

Sarah