I hate debt-especially for a teenager starting a micro business!
Dollars and Sense host, Carol Topp and guest host, 17 year old Jonah Wilson, discuss 5 dangers of using debt to start a micro business.
In the podcast, Carol and Jonah mention Starting a Micro Business, a helpful book (and ebook) that can be very helpful in launching your micro business.
5 dangers of starting a micro business with debt
- Debt presumes on the future
- Debt encourages quick decisions, not careful planning6
- With debt, you are a slave to lender
- A loan can increase the risk of failure
- Debt can stop blessings.