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Politics : Welcome to Slider's Dugout
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To: SliderOnTheBlack who wrote (17322)5/8/2009 5:54:38 PM
From: Neeka4 Recommendations  Read Replies (1) of 50509
 
I hate to do this, but I'm on the side of the bank on this one. We've been small business owners (GC construction) for 21 yrs and have NEVER relied on our plc to fund our payroll.

We've used it (in small amounts) to cover receipts from subs, but wouldn't dream of using it for payroll, and would go out of business first if we ever found ourselves in that position. Any employees we may have get paid first then we pay my subs......which we always do.

We are not a big co, and usually pay our bills the day they come in. We are frugal and don't over spend and usually have enough in the account to cover all of our costs and then some.

A successful business takes in as much or more than it needs to cover it's costs. For us, relying on a plc for payroll, overhead etc. is bad business policy.

I know many, many companies do it, and that may be part of the problem, but we don't believe in operating that way.
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