Really whats to start my own Business !!!!

chalkie99

pitkin2020 wrote: »

Its no different to people borrowing money for buying a house!! !

Of course it is!

When they can't pay their way there is the small matter of a house still being there as security.

COOLTRIKERCHICK

pitkin2020 wrote: »

...and where did I say they shouldn't do that??

I agreed that free money like some grants shouldn't really be happening but loans and investors certainly aren't free money. Grants though in fairness usually have a lot of conditions that have to be met first.

The point I was making that not every business can be started without some kind of funding. To think that every business could be started up small on a shoe string budget is being very naive.

Well my naivety has worked extremely well then as i now employ 8 people, have a 10'000ft unit, and a very good turnover...

I never had any grants or loans to start my business, and started it from the house, and the business grew organically so to speak.

If you go to any bank for a loan they will want it to be at least matched £ for £, and will want it to be secured...

The downside of having a loan to start your business, is that you have instantly put a financial strain on your business by having the monthly loan re-payments, plus loads and loads of people will want a wage instantly, which is another financial strain... and before we know it the very young business is struggling due to the finaincial strains...

So this is why i ALLWAYS say never used borrowed money to start a business, use your own... and it more likely to survive and thrive...

motorguy

pitkin2020 wrote: »

The point I was making that not every business can be started without some kind of funding. To think that every business could be started up small on a shoe string budget is being very naive.

I think you're stating the obvious with that one, however i think the point that was trying to be made was that there is no god given "right" to business funding just because someone has an idea.

I do feel that a lot of people dont seem to want to stretch themselves or have the confidence in their idea enough to invest their own hard earned into a business but feel they have some "right" to be given the money by someone else.

pitkin2020

pgilc1 wrote: »

I think you're stating the obvious with that one, however i think the point that was trying to be made was that there is no god given "right" to business funding just because someone has an idea.

I do feel that a lot of people dont seem to want to stretch themselves or have the confidence in their idea enough to invest their own hard earned into a business but feel they have some "right" to be given the money by someone else.

I don't disagree, I also don't recall disagreeing.

pitkin2020

COOLTRIKERCHICK wrote: »

Well my naivety has worked extremely well then as i now employ 8 people, have a 10'000ft unit, and a very good turnover...

I never had any grants or loans to start my business, and started it from the house, and the business grew organically so to speak.

If you go to any bank for a loan they will want it to be at least matched £ for £, and will want it to be secured...

The downside of having a loan to start your business, is that you have instantly put a financial strain on your business by having the monthly loan re-payments, plus loads and loads of people will want a wage instantly, which is another financial strain... and before we know it the very young business is struggling due to the finaincial strains...

So this is why i ALLWAYS say never used borrowed money to start a business, use your own... and it more likely to survive and thrive...

Thats great news for you. For some businesses it works well for others it would never be possible. I never borrowed any money for any of my businesses either.

Starting a cleaning businesses where you start off by yourself cleaning a few houses and building on from there taking on staff and clients as business grows is achievable for nearly everyone. You start off with the basic equipment and a small budget away you go.

If you wanted to start an airline for example i'm not sure many people could easily pull out a few million for a boeing without the need for investors or a loan of some sort.

Yes both of these businesses have been done to death but the new "airline" type of business where costs are well out of the reach of anyone other than Donald trump will crop up and will need funding.

Some business requires being first the market with it to be successful, its not something that could be built up small.

Of course for the most a small business with no finance will be the best, build it naturally, but you are being naive if you think it can be applied to ALL businesses.

pitkin2020

COOLTRIKERCHICK wrote: »

Now i seriously think you are naive, and taking things totally out of context here...

The likes of Donald trump has something called assets, and his own money to match any funding that he would try and raise....

In all honest no offense to the op, but if the op had a such a brilliant business idea which was a mega million pound deal, and needed funding i honestly dont think they would be posting for advice on here,

Why??? Someone who has an idea doesn't mean they know all about business and just asking for direction doesn't mean they don't have a good idea.

You kind of missed my point about Donald Trump, as in not everyone has his money so whether or not he has assets is irrelevant.

COOLTRIKERCHICK

pitkin2020 wrote: »

Thats great news for you. For some businesses it works well for others it would never be possible. I never borrowed any money for any of my businesses either.

Starting a cleaning businesses where you start off by yourself cleaning a few houses and building on from there taking on staff and clients as business grows is achievable for nearly everyone. You start off with the basic equipment and a small budget away you go.

If you wanted to start an airline for example i'm not sure many people could easily pull out a few million for a boeing without the need for investors or a loan of some sort.

Yes both of these businesses have been done to death but the new "airline" type of business where costs are well out of the reach of anyone other than Donald trump will crop up and will need funding.

Some business requires being first the market with it to be successful, its not something that could be built up small.

Of course for the most a small business with no finance will be the best, build it naturally, but you are being naive if you think it can be applied to ALL businesses.

ok i now want to start an airline business, will you give me funding please? my imput will be £250 honest i am serious, I also want to apply for a new business start up grant.....do you think i will qualify for a government grant for work clothes, as i will be signing off and going to work?

pitkin2020

COOLTRIKERCHICK wrote: »

ok i now want to start an airline business, will you give me funding please? my imput will be £250 honest i am serious, I also want to apply for a new business start up grant.....do you think i will qualify for a government grant for work clothes, as i will be signing off and going to work?

LOL now your being silly. Draw up a decent business plan and someone will listen to your idea, if the idea is good and unique someone will see its potential. Like i said the next "airline" type business is out there and its not the sort of business you could start with a few thousand working out of the back bedroom.

Clearly though by your thoughts only the rich can afford to be entrepreneurs unless they start small.

Do you think if someone else had come up with the Iphone/Ipod it would have worked on a small start up?? No, by the time they built it up technology would have moved on or someone with money would have copied it and reaped the rewards!

Just to add I agreed with you regarding most grants so not sure why your still going down that road.......

heathcote123

COOLTRIKERCHICK wrote: »

Well my naivety has worked extremely well then as i now employ 8 people, have a 10'000ft unit, and a very good turnover...

Whats good about a turnover?

COOLTRIKERCHICK

heathcote123 wrote: »

Whats good about a turnover?

Forgot to say i have a good profit year on year too, which is plughed back into growing the business