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The Difference Between an Asset and a Liability

In business, the more your assets outweigh your liabilities, the stronger the financial health of your business.

An asset is something you buy as an investment because it has the potential to become more valuable in time by being sold for a higher price, or because it produces a regular income or it can even be both. An asset puts money in your pocket.

On the other hand, a liability is something that drains money from your pockets. Most things we buy each day are liabilities, but the goal of investing is to buy assets instead. Liability can also refer to a debt or a promise to pay money for something in the future.

We provide advice about the protection of your business assets and strategic planning for the future. Get in contact with us today if you need a helping hand.