To me, it’s a great answer to prayer. You see, I was praying and trying to figure out how to get start up cash without providing loans. One of my ideas was to provide the startup capital and then have people pay back the program 5% of their profits for 10 years or something like that. I’m not sure it would’ve been a workable model but now thankfully I don’t have to worry about it. On top of that I don’t have to do a second round of fundraising like I was planning on having to do. We’re currently fundraising for living costs and ministry costs and I really didn’t want to have to do yet more fundraising for small business loans. I may yet have to do more fundraising for other projects but for now not for small business loans.
Have you ever heard of such a thing? I mean, free money to start a business? Say what? Pretty awesome I know. The two year thing is an obvious goal for any small business, most want to be open even after they owner has passed away. It’s hard to change the world with your business if you’re only open for less than 2 years.
However, there is a high failure rate among small business startups, even in America the land of the entrepreneur. That’s where the entrepreneurship school comes into play. I’m hoping to provide business savvy among young business owners to help them succeed in the long run. The hard part isn’t opening a business, it’s keeping one running in my opinion.
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