Small Businesses Still Relying on Credit Cards

Nearly half of all small–business owners use a credit card to boost their firm’s cashflow, new research has found.

The survey of more than 700 UK small-business owners and financial directors by Hilton–Baird Financial Solutions found that 44% use credit cards as working capital, despite the high interest rates charged.

However, Institute of Chartered Accountants in England & Wales (ICAEW) head of SME issues, Clive Lewis, said that credit card use was acceptable in the short–term, provided debt was kept under control.

Read more: http://www.is4profit.com/small-business-news/20110218-small-businesses-still-relying-on-credit-cards.html

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