- This topic has 5 replies, 4 voices, and was last updated 4 years ago by .
I would personally say it is possible to run a debt free business, but that doesn’t mean a business without bills. A debt free business would be a business that started or has paid back all debts that are owed. Let’s take this for instance. I started my web design business with a simple $500 and that was to pick up a business license,business tax ID, and a website name with hosting. At that time I was in debt for the $500 I initially invested. After that I went to proposing my services to businesses around my local area and via a freelancing platform. When I got my first job, I did everything I could to pay back the $500 a invested in the business. Afterwards, the business was completely debt free. Now that didn’t mean that I wasn’t going to owe another year of hosting fees, internet fees, renting an office in the future and etc. However, most early businesses are ran from a home environment.
Now, if you saved up a little money depending on what business you are trying to start you can begin a business for as low as $500 or $20,000 it really depends on what type of business you will be starting, how you are going to market, pay back the investment, hours you are willing to commit and etc.
What is everyone else’s thoughts? Can you be debt free? Bill free? How profitable can you make a business right out of the gate?
- You must be logged in to reply to this topic.