Quote:
Originally Posted by OldDutch
You bring up some good points, but rent is a known cost. One you can factor into a business plan. So are staff costs. I though people would have to show they have enough to float for a year at least on slow business.
I respect anyone who starts a business. It is tough work. I think the previous comment of not knowing what your doing and realizing it factors in heavily. Things probably snowball quickly.
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Some of the banks are very conservative in their risk management policies. I know for one of the majors that restaurants is classed as the riskiest business.
Some of the other smaller, more entrepreneurial focused banks (ATB) lend money too easily and only require business plans to show something like 3 months of operating capital and people don't have contingencies.
"And so when Collee lost his job in oil and gas, they took the plunge and sought out a location on 17th Avenue"
There's definitely been more of an entrepreneurial atmosphere in Calgary of late but it comes out of people losing their jobs...the problem is that they are starting retail business at the exact same time the recession has caused the pool of disposable income and corporate cards to dry up.