Question: I have been working for a good number of years and have come to realize that most of my retirement will have to be funded by me and not my employer or the government. As a consequence, I am now planning on setting up my own business that I hope will be the source of my retirement income. I know that I should not set up a business upon retirement as doing so may already be too late. I also agree that I should start small but think big. But because I don’t exactly have overflowing cash, I think I would need to borrow money. Up to how much of the needed start-up capital do you think I should borrow? Is it also wise to get a loan against my house and use the proceeds as the initial capital for my business?—Retirement-conscious employee
Answer: A great many of the training participants at ourEnRich©training runs have the same aspiration—to run their own business. And perhaps an equal number of them have the same dilemma—how to fund the business given limited resources.
Pinoy Biztalk and Jobs Abroad: ‘How much must I borrow to start a business?: ‘How much must I borrow to start a business?’ Question: I have been working for a good number of years and have come to realize that mos...
