It depends on what it is for and how it is intended to be paid back.
There is a difference between personal debt and business debt.
Personal debt often is used to acquire things we don't have the means to pay for. Effective business debt is used to acquire productive assets that will pay for themselves.
Effective use of sound business debt can help us more rapidly grow our business.
Unsound borrowing can crush our business, we need to be able to work out if this specific borrowing is sound and wise or reckless and foolhardy.
There are 4 questions we should ask when it comes to borrowing:
It's beneficial to take some time to ponder these.
