Small business owners will have to learn to finance their businesses without bank loans— which means being resourceful, creative, savvy, and willing to grow incrementally. Attending to industry-specific strategies that maximize cash flow, above all else, is paramount. It’s a brave new world in sm bus operational mgt! I’ve never in over 17 yrs taken out a bank/sm bus loan and I certainly never will.
I’ve never in over 17 yrs taken out a bank/sm bus loan and I certainly never will.
That certainly sounds like a prudent strategy. I would be interested how you invested in large capital. In some businesses one just cannot compete without it. I suppose venture capital would be an option. I suspect another option is to be very selective in business selection - choosing businesses that that don't require it. Sounds much easier said than done. I am employed in a very capital intensive occupation for a large corporation and our lab has been repeatedly downsized because of cost pressures. I've been considering what I might do next after the inevitable occurs and am quite wary of capital-intensive endeavors...