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Reply To: What way did you fund your business?

By Dieter

#5355
Dieter
Participant
  • Total Post: 4
Points: 30
1

After living and working in Dubai I got laid off from my international employer. I was given the option to return back my home country or find another job.  I have chosen door number two, trying to find another job. Lucky me my boss was so nice to allow me to keep my visa. To actual stay in Dubai you require a sponsor who pays for your visa so you can stay. After taking a couple of freelancer jobs and I earned quite ok, I meet new friends who trusted to raise a new company with a business we all 3 hade been interested in. Lucky me, all 3 of us put money into the company, myself I had only a little money to pay for my shares but was the only one working in this company and actually contribute with my knowledge and hard work. We had startup capital to make our own office, hire people and kicked off our IT Service company. In the second year, we paid all our founders loan back (1 million) and now run on our own earnings.

I trust people who want to invest into a company more than looking for an investment company. Investment companies are not very flexible, your reporting kills you along the way so you spend more time on reporting than earning money. I can only advice, find the right guy who believes in your idea and can give you the money.

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