Far too many
businesses are relying on large scale credit from the Bank. The days when
credit was considered to be a short-term back-up have unfortunately gone.
This comes
at a cost. What most people don’t realise is that all these amounts of debt and
interest are paid by all of us – the consumers. The consequence of this is that
everything we buy comes at a premium. Our cost of living would be a lot less if
we weren’t financing the Banks by the back door.
Don’t be in a
rush to borrow money to fund your project.
By borrowing
money the economy is spiralling out of your control. Every business currently
in debt to the Banks realises the truth. The deeper your debt the less control
you have over your business. When there is a downturn in the economy you are
limited in what you can do to survive it. Your debt is still hanging round your
neck. You can’t get rid of it and the Banks stop lending so you can’t expand to
cover the extra money you need to expand.
Result.
Very, very hard times, catastrophic reduction of your available products
possibly ending in bankruptcy.
The way
forward is not expansion into larger and larger businesses. The stability of
our future lies in the entrepreneurs who are prepared to start small and concentrate
on building up finances and developing at a realistic speed according to what
the market requires. A small business can change direction, alter marketing
methods, etc. at speed. Overheads are more manageable. Economies can be without
the dead weight of debt hanging overhead.
The person
who has this control over the business is in a position to develop as far as he
or she wants. The choice to remain as a small one-person or family affair or to
develop to any level up to an international company is not controlled by the
millstone of debt.
Successful
entrepreneurs are willing to take on work that they normally wouldn’t consider
to build up the finance they need to get started. They don’t spend time
feathering the nests of bankers with great dollops of interest.
Once you are
in the clutches of debt it is very difficult to extricate yourself but it can
be done.
The ‘Show Me
Financial Freedom – The Key to Success’ is a series of inexpensive Ebooklets
available from Amazon which offer helpful suggestions on starting up small businesses
with little or no outlay.
The first
two are already available. These are ‘Easy Ways to Make Money From Car Boot
Sales and Markets’ and ‘Twelve Easy Ways to Make Money With Your Camera’ both
by Lesley Cooper.
Theodora is has produced a programme to help new entrepreneurs find a business that suits them. It also will give existing entrepreneurs the opportunity to extend their businesses or find new financial mountains to climb Show Me Financial Freedom
