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in future you will not only succeed, but will be gratitudeous.
If nothing works, then don’t start your evasive tactics…
AND OVER HERE UPFRONT FEES IS BASED ON YOUR CHOICE IN THE LOAN PROCESS.. So keep enough cash on hand to live in a foreign country and at the first sign of insolvency, leave the country. At the very least, hoard enough cash to live on for two years.
Its true that every one start a business on own to have a successful life.
I have been hearing again and again of people driven to suicide by loan collectors or in this peculiar news, defaulters killing their bankers. In a business losing money does not mean that you had embezzled funds.80% of the business fail due to cash flow problems and those can be over come by talking to bankers to extend the loan, or with the help of a short term loan from friends and of the business usually failed as a result of non conducive market scenario and is part of the learning process.
But have you noticed one thing in common among all these defaulters…. I agree that in traditional societies like India, being fired from the job or failure in your latest venture makes you the center of the town gossip… you have responsibility towards your family, your kids and killing yourself/banker does not solve the problem. you will be surprised to know it coming from unlikeliest of the places.
it distinguishes between the assets of the family and your assets and has all the features that allows you to write-off the loan once and for all and start again.My huble advice/suggestion to startup companies and Entrepreneurs is"IF YOU CANNOT BACK YOU UP FOR YOUR BUSINESS FOR 3 YEARS WITHOUT THIRD PARTY FUNDS, DONT DO BUSINESS".Iam 64 Year Old Retired Person Getting Monthly Pension of Rs5000.Its very easy to start a business, its tuff to run it for the first year, its tuffer the second year.If you dont have a financial back up then its sure that you will collapse on your third/fourth year.