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

[Jonaville1]

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.

Some people actually take loan to invest in some particular businesses but it is very risk because investment is a risk and that is why it is advisable to invest with your money

 

[Good-Person]

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.

Liabilities refer to the kind of money that you owe. Many businesses always have liabilities and it is very important to pay them off before you face the problem of bad debts,.

 

[Chibson]

Liabilities refer to the kind of money that you owe. Many businesses always have liabilities and it is very important to pay them off before you face the problem of bad debts,.

Okay, that means borrowing money to invest in a business is also a liability. I think there are some liabilities that may be helpful to the business in the future. It is always important to pay off as soon as possible.

 

[Ernestnari]

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.

It is best to be sure that when a business incurs liabilities, it is for the good of the business in the long run. Do you know some businesses incur debts for frivolities? Some organizations incur debt to organize end of year party.

 

[Heatman]

Yeah, i know one does not need to have a business to have a liability. I meant i don't have a liability in business since i don't own any business of my own for now.

Anything that is going to be causing a lot of expenses for you in your business is regarded as a liability because it doesn't add to the profit that your business is making rather it is taking your profit for sustaining it. It is why cutting down on your business liabilities is very important.

 

[Laurentta]

Anything that is going to be causing a lot of expenses for you in your business is regarded as a liability because it doesn't add to the profit that your business is making rather it is taking your profit for sustaining it. It is why cutting down on your business liabilities is very important.

Yeah. I know that unnecessary expenses in a business is regarded as a liability. I don't own a business for now but when i eventually do, i would try as much as possible to cut down on my business liabilities.

 

[Kennysplash]

Liabilities are things and even people that are not working towards the progress of the company. The moment you figure out what exactly they are then you should try your best to change the narrative for the best interest of your business.

 

[Agbalagbaa]

It is best to be sure that when a business incurs liabilities, it is for the good of the business in the long run. Do you know some businesses incur debts for frivolities? Some organizations incur debt to organize end of year party.

This is really pathetic and if continued it would drastically affect the growth of such company. Money management is very important for financial stability at individual and corporate level.

 

[Trey]

Liabilities are the amount payable by an organization. That is the debt owed by the organization to others. Example is staff salary. It is a debt the company owes the staff.

 

[Robert90]

In the world of business, liabilities are the legitimate debts that a corporation owes to other creditors. Accounts payable, notes payable, and bank debt are a few examples. All firms must incur liabilities in order to function and expand, but a secure foundation requires a healthy ratio of liabilities to equity.

 

[Danny4cash]

Liability can be anything you keep on spending money on, example could be an electrical generator for business. Some liabilities are positive as it help your business grow while others does not help your business grow but keep on taping from your business resources and those are the ones that must be avoided such as spending your business capital on gambling.

Exactly, liabilities are things that you keep spending more on in your business. In business, there's no how you won't one or two liabilities. They problem is liabilities don't bring much money to business.

 

[Mostee501]

It's crucial to consult with professionals such as attorneys, insurance agents, and risk management experts to develop a comprehensive liability management strategy tailored to your specific business needs.

 

[Heatman]

Liabilities are the amount payable by an organization. That is the debt owed by the organization to others. Example is staff salary. It is a debt the company owes the staff.

This is actually the reason why it is always encouraged to try as much as you can as a business owner or an entrepreneur to cut off all the unnecessary liabilities that are not going to contribute adequately to the financial growth of your business so that you will improve your profit making.