Mark Barnes Columnist

Capital is always available; just not always at the right price. You’ll find that the more you need it, the less affordable you’ll find it to be.

There’s a tipping point, where it simply doesn’t make sense to borrow money; where credit becomes a destroyer, not an enabler. If the yield on the assets you’re borrowing money to finance (net of the costs you have to incur to earn that yield) is less than the cost of borrowings, it simply won’t work, from day one.

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now