I've made a payroll. I know what it's like to execute a business plan. I know what it's like to expect the proper return on investment... and I know you can't spend your way out of debt.
In this business, if you don't pay your debts you're finished.
When we manage a restaurant, we start making money from the first day. When we own a place, it's often five years before we earn the first penny that is clean of debt.
Only morons start a business on a loan?
When we talk about Donald Trump business, he has taken business bankruptcy six times. There are a lot of great businesspeople that have never taken bankruptcy once.
Below-target inflation increases the real value of debts owed by households and businesses and reduces the ability of central banks to respond to downturns.
I have heard firsthand from several small business owners about their struggle to borrow and their fear of taking on additional debt.
Lee Daniels, even though he owes me $2 million, I picked that. I put him in business.
