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Coaching Point of the Week
Debt is not needed to start a business. In fact we don’t advise borrowing any money when starting a business because it can make things difficult and can quickly kill your dream. Here are some facts. Last year 26% of new business started with $0 while 34% started with $5,000 or less. That means that 60% of small business started with $5,000 or less indicating that debt in not necessary to start a business. You must be willing to grow slowly so your business survives and that you make adjustments from your experiences as you grow.