Unit 6 Discussion

David Revis8/13/2016 7:40:42 AMUnit 6 discussion 2It is very important for a business owner to know the break even point so they better understand how long they can last without profit and how fast the business can bounce back when their funds are gone.In my experience with my own business we functioned at the break even point for quite a while and slowly watched our company savings slip away due to emergency situations that needed taken care of. Because we did not bring in a profit we ended up having to lay off and restructure how we do business. Now we are in the long process of getting back into a good financial position. I think a good point for my business is about 3 months. The nature of my business is pretty unstable so there will be some months with huge profit and others with a loss. But the longest period of loss is usually during the summer months which go about 3 months. The best way for a small business owner to gain additional funds would be to take out a loan from a bank or credit union. This is what I would recommend to