I have a small visualization studio (photography, retouch and 3D rendering) that my wife and I started a couple years ago and we are coming up on a point where we may need to hire on someone to help with the work load. We are worried by the idea of being able to save up enough to cover this persons salary and benefits. Is it better to have that money saved in cash or maybe borrow it via a business loan? We have enough business for us too be turning work down, but the big obstacle is the 40-90 day payout our clients range between.
Any insight into this hurtle of hiring your first full time employee would be appreciated.