Comments on: [Guest post] How to select and use small business credit cards http://blog.microenterprisejournal.com/2009/12/22/guest-post-how-to-select-and-use-small-business-credit-cards/ Musings on Life, the Universe and microbusiness Mon, 06 Sep 2010 15:30:46 -0700 http://wordpress.org/?v=2.8.6 hourly 1 By: The Journal Blogger http://blog.microenterprisejournal.com/2009/12/22/guest-post-how-to-select-and-use-small-business-credit-cards/comment-page-1/#comment-51045 The Journal Blogger Wed, 23 Dec 2009 16:55:35 +0000 http://blog.microenterprisejournal.com/?p=1824#comment-51045 @ Anita I wouldn't even argue, we see it all the time, don't we? @ Peter I doubt most newbie business owners are quite THAT airheaded! Mostly, they use their personal savings and their credit cards because that is all the startup capital they have access to. Too many banks won't lend to new microbusinesses because they are seen as too risky or because their owners only want to borrow $5,000 or something like that. That is often where credit cards come in. Advocacy research finds the average startup costs $6,000, but banks don't like lending less than $50,000 because there's not really any profit in it for them at the lower dollar amounts. @ Anita

I wouldn’t even argue, we see it all the time, don’t we?

@ Peter

I doubt most newbie business owners are quite THAT airheaded! Mostly, they use their personal savings and their credit cards because that is all the startup capital they have access to. Too many banks won’t lend to new microbusinesses because they are seen as too risky or because their owners only want to borrow $5,000 or something like that. That is often where credit cards come in.

Advocacy research finds the average startup costs $6,000, but banks don’t like lending less than $50,000 because there’s not really any profit in it for them at the lower dollar amounts.

]]> By: Peter http://blog.microenterprisejournal.com/2009/12/22/guest-post-how-to-select-and-use-small-business-credit-cards/comment-page-1/#comment-51025 Peter Wed, 23 Dec 2009 01:04:31 +0000 http://blog.microenterprisejournal.com/?p=1824#comment-51025 Small business owners tend to start up their business by purchasing office supplies and other equipment needed for their business. Business owners make the mistake of thinking that they will get more rewards from their credit card companies by spending a lot not realizing that they have to pay it up at the end of the month. Small business owners tend to start up their business by purchasing office supplies and other equipment needed for their business. Business owners make the mistake of thinking that they will get more rewards from their credit card companies by spending a lot not realizing that they have to pay it up at the end of the month.

]]> By: Tweets that mention [Guest post] How to select and use small business credit cards | The Journal Blog -- Topsy.com http://blog.microenterprisejournal.com/2009/12/22/guest-post-how-to-select-and-use-small-business-credit-cards/comment-page-1/#comment-51014 Tweets that mention [Guest post] How to select and use small business credit cards | The Journal Blog -- Topsy.com Tue, 22 Dec 2009 20:42:55 +0000 http://blog.microenterprisejournal.com/?p=1824#comment-51014 [...] This post was mentioned on Twitter by Latrisha, Kimberly. Kimberly said: [Guest post] How to select and use small business credit cards ...: b) Taking advantage of various rewards and .. http://bit.ly/4yp1kd [...] [...] This post was mentioned on Twitter by Latrisha, Kimberly. Kimberly said: [Guest post] How to select and use small business credit cards …: b) Taking advantage of various rewards and .. http://bit.ly/4yp1kd [...]

]]> By: Anita Campbella http://blog.microenterprisejournal.com/2009/12/22/guest-post-how-to-select-and-use-small-business-credit-cards/comment-page-1/#comment-51000 Anita Campbella Tue, 22 Dec 2009 16:40:01 +0000 http://blog.microenterprisejournal.com/?p=1824#comment-51000 Good points all. I suspect that many small business owners would fail on points #3 and #4. Lots of mixing of personal and biz expenses goes on. And far too many small businesses finance their startup phases on credit cards. :) - Anita .-= Anita Campbella´s last blog ..<a href="http://feedproxy.google.com/~r/SmallBusinessTrends/~3/D-U_lpuUUPY/the-pros-and-cons-of-outsourcing.html" rel="nofollow">The Pros and Cons of Outsourcing</a> =-. Good points all. I suspect that many small business owners would fail on points #3 and #4. Lots of mixing of personal and biz expenses goes on. And far too many small businesses finance their startup phases on credit cards. :)

- Anita
Anita Campbella´s last blog ..The Pros and Cons of Outsourcing My ComLuv Profile

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