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Not to mention that at $8/hr it's difficult to accumulate the capital necessary to buy a grill and perishable supplies, or to get a loan for the capital. And h
by cauterized 12y ago
Not to mention that at $8/hr it's difficult to accumulate the capital necessary to buy a grill and perishable supplies, or to get a loan for the capital. And how successful is that business going to be competing against the McDonald'ses (how do you pluralize "McDonald's"?) of the world AND all the other burger flippers' grilling businesses without name recognition or a marketing budget?
- padobson 12y agoAccess to capital is certainly another part of the equation that would have to be solved to build an economy around entrepreneurship. Would it be so terrible to give people the option between starting a business after high school and going to college? Would you rather a bad student default on their student loans or a bad entrepreneur default on their business loans? Then again, the market may be providing a solution to this capital problem. Have you checked your mail lately? I get a letter everyday from a credit card company offering 12-24 months without interest. That's more than enough time to start a small business. It may be subsidized by the financially illiterate, but that's a whole 'nother can of worms.
- cauterized 12y agoIf you're financing based on credit card rather than savings or investment, that had better be a low-risk business, because once the interest-free period runs out you're going to be royally screwed if your business fails (9 out of 10) or has low margins.