Small business owners across the nation are nervous and on edge about the debt ceiling debate going on in Washington. If the borrowing ceiling is not lifted, that could cause a lot of small business owners to shut their doors. It is a battle to try to reduce the deficit long-term and keep enough revenue flowing for survival.
Some business owners have put hiring to a freeze. If an agreement is not reached soon, an economic crisis will arise. The results would cause a delay in Social Security payments, high interest rates on credit, and possibly a default in loans by the federal government.
I remember a while ago when the financial crisis caused the banks to tighten up issuing credit to small business owners. Some businesses had to close and a lot of others have never recovered. What’s going on now is very risky and the outcome could cause a national devastation. Let’s hope and pray that the government makes a wise decision soon! USA
The Debt Ceiling Debate is over. Check out the link below to find out how your business can survive in any economic crisis.