Can I still start a small business with economy crisis that we are facing today?
I would love to start a small business, deli/ carry out by next year. But concern about the risk and economy crisis these days. Would it be a bad time to do so? I have own a small restaurant before and have enough knowledge to operate the business.
Are banks still lending money for small business owners?
July 19th, 2010 at 2:07 pm
Sure, not all banks out there are lending, but there are still a bunch that are. And if you’ve got a good business, bad economy or not, chances are you’ll win out in the end.
July 19th, 2010 at 2:55 pm
Yes,the banks are lending.I say go for it .You only live once.
July 19th, 2010 at 3:46 pm
I wonder if it wouldn’t be good to start with a roach coach. I don’t know much about the biz, but your overhead would be low, wouldn’t it? And maybe you could save some cash toward the business and make a name for yourself, not to mention the fact that you would be building relationships with people who buy your food every day. Hit shops in the area you would like to have your deli so it would be near the people who know you. I may be completely wrong and you may hate the thought of going mobile- and I really don’t know all that entails, but…?
I applied for a student loan and we have excellent credit and I was denied, so I don’t know if they are handing out much money for small businesses either. You are more likely to get a loan if you have a business plan in place. Best wishes!!
July 19th, 2010 at 4:26 pm
People have to eat whether the economy is good or bad. GO FOR IT!