The biggest complaint from people wanting to start a business is, "I don't have capital." Banks aren't lending but if they were, it would give you a greater opportunity to screw things up. So it will help you be creative and spend less. If you have a proven business plan, share with friends and family.
Yes, some banks will only float good companies. But others could not give two hoots if you have a business, a business plan or any business experience.
A lot of people want to start a business, and they're like, 'I wanna start a business, give me some money to invest.' Where is your business plan? Are you investing money yourself into your own business? How is this going to work? People think that they can just come to you with an idea and have money.
Capital market liberalization includes freeing up deposit and lending rates, opening up the market to foreign banks, and removing restrictions on capital account transactions and bank lending. The focus is on deregulation, not on finding the right regulatory structure.
Founders go wrong when they start to believe their business plan will materialize as written. I advise entrepreneurs to burn their business plan - it's simply too dangerous to the health of your business.
If you are a person with big dreams and would love to support others in achieving their big dreams, then the network marketing business is definitely a business for you. You can start your business part-time at first and then as your business grows, you can help other people start their part-time business. This is a value worth having - a business and people who help others make their dreams come true.
My family was in two businesses - they were in the textile business, and they were in the candy business. The conversations around the dinner table were all about the factory floor and how many machines were running and what was happening in the business. I grew up very engaged in manufacturing and as part of a family business.
The purpose of finance is to enable business to acquire the ownership of capital instruments before it has saved the funds to buy and pay for them. The logic used by business in investing is things that will pay for themselves is not today available to the 95% born without capital. Most of us owe instead of own. And the less the economy needs our labor, the less able we are to "save" our way to capital ownership.
Separating out banks and investment banks right now under Glass-Steagall would have very big implications to the liquidity and the capital markets and banks being able to perform necessary lending.
Small businesses, you can give them capital, but what they often need as much is mentoring, advice and help with their business plan.
The reason I grew so fast in the supermarket business, without help of the banks in those days, was through my vendors. I convinced my vendors, the companies I was doing business with, if I did more business, they would do more business.
Most banks - with Deutsche Bank at the top of the spectrum here - have decided that they can't make money lending to barrowers anymore, so they're going to the second business plan: They lend money to casino capitalists. That is, to people who want to gamble on derivatives.
I always like to tell people who are interested in the business, and the acquired wisdom I give my children, is to stay out of show business. There are better ways to lead your life. You might end up being happier and spend more time with your family and make more money if you don't work in the film business.
It is no wonder that bank capital is regulated. When borrowing and lending is profitable, it is tempting for banks to scale up their operations and to borrow and lend too much in relation to their capital, in effect reducing the effectiveness of the potential capital cushion.
The ability to cultivate friends is a powerful aid to success. It is capital which will stand by one when panics come, when banks fail, when business concerns go to the wall.
One of the biggest problems out there that I hear from my friends in the business community is that there's no lending, that it's tough to get a loan today.
I'm all in favor of banks that play their part in community endeavors, private individuals looking for loans, people who want to start up a little business, and that's what banks are for.