KFS Report on Credit Card Use
Posted on | September 16, 2009 | No Comments
The Kauffman Firm Study reports that credit card debt reduces the likelihood that a new business will survive its first three years of operation. The report, The Use of Credit Card Debt by New Firms, states that for every $1,000 increase in credit card debt the probability a new firm will close will increase by 2.2 percent. However, the study did not find a statistical relationship between the use of credit cards to fund start-up costs and the subsequent business closures.
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