SBP 049: How to Get Out of Debt When Your Business Owes A Lot of Money

The Activator HQ Podcast (formerly The Smallstarter Business Podcast)

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3+ y ago 52:29

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What do you do when your business owes a lot of money?

You took money from people close to you. And you also borrowed money from the bank.

You asked for that money because of the belief and confidence you had in the potential of your business.

But then, some things went wrong.

The market changed. The product didn't sell as much as you expected. Or some unexpected misfortune hit your business.

And now you're owing a lot of money.

You feel a deep sense of personal shame, embarrassment, and disappointment.

You're afraid of taking phone calls from your creditors, and you have started avoiding them.

You're feeling a lot of stress and anxiety. You can't sleep. And you're starting to slip into depression.

What do you do when your business is neck-deep in debt?

This is a situation many entrepreneurs are going through, especially after the COVID-19 crisis.

And today, you're going to learn some very interesting insights about how to get out of debt when your business owes a lot of money.

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