A businessperson has an appeal like no one else. The confidence that oozes from their pores is unparalleled by the common service class.
And confidence, they are bound to have it. They built a profitable establishment on their backs, with the more hard and sweat than any other profession.
Can the service class ever do that?
No, because they find a place for themselves in an already established company that has been earning profits much earlier than their arrival.
I am not saying that the service class does work hard, but their hard work would always be a step behind them.
The current CEO of Google, Sundar Pichai, may have worked 18-hours a day to improve Google’s search experience, but his hard work would never be as acknowledged as that of Larry Page and Sergey Brin, the co-founders of the mammoth in search engine spectrum.
This is why people worldwide dream about starting on their own, and they are willing to leave the security of their jobs and undertake the uncertainty of the business world.
Many a time, these aspirants are held back and become unable to fulfil their dream.
The dangling omen of bad credit is one major reason for the same. However, let me tell you that a history of bad credit cannot hold you back any more.
If you have too much debt one yourself, you can opt for debt consolidation loans for bad credit found in the UK to get some reprieve in the form of just one loan obligation and focus on your dream.
To establish a business, two things are crucial. Without these, your business has a less than perfect chance of becoming successful. And all three of them are not connected to bad credit.
A Feasible Business Idea
The first and foremost is to decide upon a business idea. This will lay down the structure of your business and the direction it would take as long as it survives, which the optimist in me says will be forever.
There are so many business opportunities in the world. Everything we see and use as a business model behind it.
The laptop I am writing on;
The coffee I am brewing right about now;
The air conditioning I have in my office;
The screen you are reading my writing on;
Everything is a business idea, and if you have the knowledge and the skill to make that idea work, you are bound to be successful. If not, then the chances are less.
Landing on the Idea
The point I want to stress on is knowledge. There is no bad business idea, but you have to have the knowledge to make it work.
If I talk about myself, I am a business graduate, and I am interested in literature. So, I combined both the field that I have knowledge about and became a blogger.
If I had taken up web designing, my business would not have flourished as much as I would have wanted it to. This would be because I would have no clue how to design a website.
So, focus on your strengths and then think of an idea and make it work. Do a little market research, analyse the competitiveness and take advantage of your skillset.
Your bad credit history will have to bearings on the feasibility of your business idea.
Having a business idea may seem enough, but it isn’t. There is something else that is equally important, and that is money.
You may have the most lucrative business idea, but without funding, that idea will not work.
This is a problem that folks with bad credit have. They are unable to secure the right amount of funding that is needed by them. It may seem unfair, but it is true.
However, at present, the bias against low creditworthiness is changing in the world. People with a history of adverse credit can still get a loan.
Very bad credit loans with no guarantor from a direct lender are proof of the same.
This loan will kick start your business; however, you might have to get an investor to stabilise your business in the initial years of operations.
In the end, all I want to say is that the business world does not bias against the up-and-coming entrepreneurs merely because of their bad credit history.
What is in the past should stay, only if it is not anything criminal.
So, shed the fear off, and start planning your business venture, if that is what you want. And do not let your past mistakes dictate your future; start afresh, and you would have an equal chance to strive and flourish as anyone else, so get on with it.