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In the US, most of those suppliers understand the nature of startups and are accustomed to working with them, fully aware they are likely to fail. The deals are
by jandrewrogers 2y ago
In the US, most of those suppliers understand the nature of startups and are accustomed to working with them, fully aware they are likely to fail. The deals are structured appropriate for those realities and some suppliers specialize in or have a preference for startups.
In the UK, many suppliers still treat startups like an exotic beast, or worse, a corner shop. US business has a familiarity and comfort with startups, due in no small part from being an increasingly prominent part of the American business landscape since the Second World War. It is the water they swim in.
- Earw0rm 2y agoThat's interesting! Here, failing to pay your bills is both a breach of fair play, and what "dodgy" people i.e. criminals and con-artists do. But equally it means we can operate a bit more of an honour system in terms of lines of credit. Small businesses typically allow one another at least some amount of credit terms, which they would not offer a private individual.