This is a question for you. How long do you think it takes to get a company formed and operational in your area? 3 weeks, 4, 6 weeks? Well, depending on what town hall of which community you intend to operate in, it can easily be 45 or 60 days even more sometimes. And to be licensed for some businesses it may take even longer to gain all documentation needed to legally be operational as a business.
You may agree that the entry door to the entrepreneurial world is in itself somewhat of an obstacle, especially when, as an entrepreneur you are eager to get going with your business idea. But you are ready to go over obstacles so your idea is still burning inside your head and waiting is not a problem.
The spark you had for starting your business, could have died down somewhat, yet you, luckily, are not to be discouraged by this long waiting spell to get documentation approved and can not wait any longer to get started… Well, more traits of business are on the horizon as you will find out when you read further.
If you are investing or thinking of opening a business, the culture of business for entrepreneurs is not exactly reassuring because there is a level of suspicion towards investors, in general. Questions are always being asked about finances; what dodgy bank provides them, is the money gathered for investing clean and legal, are the approvals obtained legally, and also, is money passed under the table for special deals.
People and official departments are weary and often tired of bad business corporations forming daily to exploit, distort and carry out illegal business activities behind the open front face of a properly arranged company. Many chief operational officers of companies carry their operations behind closed doors, causing this way an image for themselves and their corporations that is not respected and admired by many people.
Also, their public image is further tarnished by the fact that the bigger they are as a company, the less they contribute in taxation to the Inland Revenue. This increments the public rejection to the big investors although the governments normally are in favour of the big corporations investing in their country and allow them big tax perks for doing so.
In addition to that, there is the educational system which does not a great deal of fomenting entrepreneurial practices, in general. A different strategy for promoting innovation could and should be implemented at all stages of education everywhere, starting from a very early age.
Focusing on teaching innovative methods for wealth creation could be so much more productive for the future of many communities. Embracing future investment from individual entrepreneurs should be wanted and encouraged by the whole society and it would help so many people embark in businesses’ practices.
Knowledge and only knowledge is not good enough for all, who do not take real action. Individuals need also singularity, creativity and the avenues to exploit their ideas no matter how different from the educational norm. It is not good having so many graduates and not welcome and encourage entrepreneurial endeavor in the business world.
In this day and age, why should it not be possible to start a company in 24 or 48 hours? I know that in some areas it is possible to buy a ready-formed company straight away and be operational the same day or the next day and only pay about 135 Euros for it.
After all that, there are the problems of financing which are horrendous since the crisis began. Now there is the fear of the banks imposing tremendous obstacles to get access to financing of any kind. Huge burdens are imposed on smaller companies when they have to include their family’s finances in the total deal of the banks’ package. Very scary practices!
The banks have at the moment aversion to risk taking so the entrepreneur has to take this into consideration when it comes to seeking capital. Granted that he or she being so eager will come out with solutions for financing the business and this is going to be needed if they are to succeed with their plans.
There is always the option of using private investments but this has to, be considered with caution and with close scrutiny. Be prepared to pay ten, fifteen and twenty times more than the borrowed private loan… But all this I hope, will not be enough to persuade you to stop your idea and I hope that, to the contrary, you feel that nothing is going to stop you from pursuing your dream. If this is so, then you deserve dear reader, the success that you are after, when, in the most adverse conditions, you manage to forge ahead regardless.
Since all of the above are nothing more than obstacles and you are still here thinking nothing can stop you to achieve your goals, it is time now for a further article to cover all the advantages of being an entrepreneur, which I will cover in the near future.
It then looks like you will be the bearer of wonderful news in your business because, for you, success is the only outcome to achieve since quitting is not an option.