Start-up entrepreneurs are aware that establishing and operating a business involves taking risks. However, they still go ahead with their plans of becoming their own boss. These aspiring proprietors do whatever it takes to achieve their objectives. To finance their ventures, they don’t hesitate to use their plastic money. Some of them even take out commercial loans for the purpose. These businessmen believe they’ll be able to generate enough revenues to pay off such dues. However, this is not always the case. In such a situation, these owners end up accumulating more debts than they can handle. This is when they find themselves in trouble.
Arnon Dror Kodak – Why should start-up entrepreneurs opt for debt consolidations schemes?
Arnon Dror is one of the most prominent financial professionals in the world. This MBA graduate from Hebrew University has more 20 years of valuable experience under his belt. During this period, he has been able to discharge the functions of a Vice-President in numerous companies. These include organizations like US Channel Group, Scitex, Creo Americas, Presstek Inc., Kodak and Creo Inc. The officials of these organization credit him for saving their concerns from bankruptcy. They say he is responsible for successfully implementing their corporate reconstruction programs. Many of them even admit his expertise extends to many diverse areas. These include international taxation, cash flow management, ERP integration, internal control, strategic planning, and corporate mergers.
The Arnon Dror Kodak team of professionals say managing ever-increasing debts is always a contentious issue for start-up entrepreneurs. It hampers their entire commercial operations in the market. Even research shows most businesses falling in their category become bankrupt within just 5 years. This is a situation which these aspiring proprietors need to avoid at all costs. These specialists suggest they should consider opting for suitable debt consolidation schemes to improve their finances. It involves converting all their outstanding loans and merchant lines of credit into one. It is generally available a comparatively lower rate of interest. They point out the following 2 important reasons for taking such a step:
- Avoid the hassle of remembering multiple due dates
Start-up entrepreneurs normally to take out multiple commercial loans to get their businesses up and running. These businessmen find it very stressful remembering the due dates for their repayments. After all, they also have other things on their mind while operating their establishments. However, failing to clear even of these dues on time is detrimental for their businesses. It leaves an indelible mark on their credit score. Fortunately, this doesn’t happen when opting for debt consolidation schemes.
- Working with a reliable service provider
Entrepreneurs who opt to avail suitable debt consolidation schemes get to work with reliable financiers. The financiers enter into negotiations with the lenders of businessmen. It’s not possible for the owners to conduct such talks. They don’t have the necessary skills or experience. These experts try to convince the bankers on implementing such plans for their clients. After all, no one benefits if these proprietors file an application for bankruptcy.
The Arnon Dror CT team of specialists say opting for debt consolidation schemes is a necessity for entrepreneurs. The above 2 important reasons to take this step justifies this important fact. In the process, the businessmen learn not to repeat their previous mistakes. It’s a decision they won’t regret taking in the long-run.