What Are Liabilities In Business? How Do You Deal With Them?

[Yohanna]

Yeah, this is one of the major reasons it is very important to employ those who are knowledgeable. When you employ someone who is very knowledgeable about such kind of business your chances of succeeding will be higher.

I have seen so many companies crumble just too because they do not have competent employees which is why it is necessary to employ people that are versed in the field of the business.

 

[Syldan]

Actually there are alot of liabilities that are associated with business such as lack of finance, government intervention through policies, high tax which sometimes become very difficult to pay. As a business owner, you most be planning ahead of time.

 

[Good-Person]

The knowledge of the employees play a bigger role in the success of a business because when you employ people that are not experience, it will cost a drawback for the business.

I think that apart from knowledge, the level of experience of employees also play a really huge role as well. When your employees are experienced, they can handle things in a much better way.

 

[Danny4cash]

one of the major ways to deal with liabilities in a company is to always have proper plans. You can dedicate some percentage of your profit in the business venture to always service your debts, on the long run, you will normalise it.

You're right. Having a proper plan will help to deal with liabilities. Ordinarily, liabilities are are materials that require a lot of money without bring in profit.

 

[Chibson]

You're right. Having a proper plan will help to deal with liabilities. Ordinarily, liabilities are are materials that require a lot of money without bring in profit.

Yeah, liabilities will make you spend a lot of money without bringing any profit and that is very bad. I actually do not entertain anything that does not bring profit to me and makes me spend a lot of money.

 

[Syldan]

Well I think liabilities in business are inevitable no matter how you worked hard. either in the aspect of management, or them employees in the knowledge to perform their duties effectively.

 

[eenya001]

Businesses have all sorts of liabilities. They have to pay the loan, they have to pay their supplier, they have to pay the rent, taxes, etc. As a business, you will always have to deal with liabilities.

This are some of the reasons why many smes don't make it past the first year of establishment as they have to face so many challenges that some are not prepare for.

 

[Kane]

Businesses can't make even one year because of a lot of factors, not just liabilities. One of the prime reasons why businesses do not succeed is because they do not have well maintained marketing plan.

 

[Connor909]

All debts or commitments that a business must pay or satisfy are referred to as "liabilities" in the business world. Accounts payable, taxes, salaries, and loans are examples of common liabilities for firms. Businesses must maintain accurate financial records and develop a budget that takes all liabilities into account in order to manage liabilities.

 

[eenya001]

one of the major ways to deal with liabilities in a company is to always have proper plans. You can dedicate some percentage of your profit in the business venture to always service your debts, on the long run, you will normalise it.

Debts usually drags a business back, they are not good for business and would hinder the growth of any business on the long run and you should try to make sure your business is debt free.

 

[Abigael]

Liabilities in business are those things that make the business struggle because you have to pay for them. Which is the opposite of assets, which are those things that improve the profitability of the business. Liabilities include bad debt and wastage caused by carelessness.

 

[Mayorla]

Liabilities are the legal debts a company owe a Third-party creditors. It could be in form of money. Liabilities include Accounts payable, Notes payable, Accrued expenses, Bonds and Bank debts.

 

[Chibson]

Debts usually drags a business back, they are not good for business and would hinder the growth of any business on the long run and you should try to make sure your business is debt free.

proper debt management is always needed in a business. It may even interest you to know that most of those business ventures that are very big are in debt. But they have a way of managing it well.

 

[Jonaville1]

I think that liabilities mean something that you are supposed to pay. A loan could be a liability in a business. Your debts could also fall under liabilities. I think that almost all the businesses have some kind of liabilities, however, some of them might have different kind of liabilities. How do you deal with them?

Loan is one of the major liabilities that we have in businesses. Also, liabilities are the things that we continue to spend money on. We just have to be able to curb the way we spend money as business people.

 

[Ernestnari]

Liabilities are those things in a business that would take away money from the business. They primarily include loans and paymentd for goods gotten on credit. It is good to keep your liabilities low in business.

 

[Syldan]

Well some of the liabilities most companies always struggle with, are the issue of inadequate facilities and infrastructure that will helped yo boost their productivity.

Most often the government intervened in policies of business companies for their self gained with out providing them with the necessary infrastructure.

 

[Yohanna]

Well some of the liabilities most companies always struggle with, are the issue of inadequate facilities and infrastructure that will helped yo boost their productivity.

Most often the government intervened in policies of business companies for their self gained with out providing them with the necessary infrastructure.

The government will never give policies that will not benefit them was especially if they are very corrupt they're going to issue policies that is going to enrich their pocket.

 

[Agbalagbaa]

Liabilities are those things in a business that would take away money from the business. They primarily include loans and paymentd for goods gotten on credit. It is good to keep your liabilities low in business.

This is very true, in as much as the liabilities are kept to the minimal level it would definitely help one to advance and make progress financially in the business.

 

[Chibson]

Loan is one of the major liabilities that we have in businesses. Also, liabilities are the things that we continue to spend money on. We just have to be able to curb the way we spend money as business people.

I think loan becomes a liability when you do not know how to invest it in business ventures. There are some people who take loans to invest in some businesses and make profit from it after some period of time.

 

[Syldan]

I haven't started run my personal business yet but I worked in a company and one of the major challenges that company is facing, is that lack of qualified staff. who are unable to perform their duties at the right time.