The truth of the matter is that the majority of small business owners are just doing what they have always done and that’s just working. They’re doing it full-time, in-your-face, and they’re doing it without the constant fear of losing their jobs.
Small businesses are great for this because they allow people to maintain a certain level of financial independence. The more people you can hire, the fewer people you have to pay money to. However, the sad truth is that the majority of new business owners aren’t making the most of their financial independence. They’re spending a lot of money on credit cards, paying off student loans at the end of the month, and just generally spending money they shouldn’t have.
As a new business owner, you need to consider the fact that you have just as much money as everybody else, but it’s the little things that you may not be able to afford. You need to realize that, as a small business owner, you need to do the math, and you need to do the math as soon as possible. The sooner you do the math, the sooner you can start making some choices to better your financial health.
First, you need to know when you have money. When you start out with a business, you’ll be working hard, but you’ll also be spending money. And when you’re spending, you’ll be spending lots and lots of money. Your business needs to be a business that has a steady stream of cash going in so you can pay the bills and put food on the table.
In a nutshell, your business needs to generate sufficient revenue that you can pay your bills and put food on the table, and have the ability to pay your expenses. Unfortunately, that is not always true. With small business loans, you can take on debt that doesnt actually exist.
I know this is a very old and not so new issue, but in general I’ve noticed most small business loans arent really legitimate. Sure, you might be able to get a small business loan, but its usually just to pay off the credit card bills. Often times these are the exact same credit card company’s bills that they’re trying to pay off as fast as they can.
In fact, it is possible to get a small business loan from another financial institution that is actually a bank. This is where the real trouble begins. These are banks that don’t really care about small business loans. In most cases, these banks will use the small business loan as a way to get bigger, faster credit. But the loan is not actually a loan, and its not really debt. In fact, it’s a loan from a government backed entity like a credit union.
How can they do such a thing? Well, as a member of the government, they can simply tell the financial institution that you owe them to make the loan and that you need more money to pay it back. Once the loan is made, the company can then continue to pay the loan back. But that is it. No one actually owns the loan. It is simply a loan from one entity to another.
You’d think that the government would be protecting you from all this debt, but in reality, it is really more of a protection racket. You are not actually responsible for anything you owe. You are simply a passive recipient of government handouts. The government does not make the loans, the government only accepts them. In fact, the government’s own tax code makes it seem as if the government does not actually own any debt, it simply accepts it.
The lending industry is actually a huge racket of all sorts of debt. It is structured to make you and the banks own something together. Banks are owned by the banks, the government owns the banks, the government owns the government, the government owns the banks and the government owns the government, the government owns the banks, again, etc. etc. etc. It is simply a gigantic way of creating debt.