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Old 07-22-2017, 07:16 AM
 
437 posts, read 198,844 times
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Quote:
Originally Posted by Pub-911 View Post
What's relevant in this discussion are the hundreds of thousands of small businesses that fail each year, the disproportionate numbers of those failures that occur among the newest small businesses, and the fact that -- thanks to our generous business welfare systems -- so much of the costs of those failures falls not on the principals, but on other elements in society.

What's not relevant in this discussion are the millions of in-name-only small businesses that have no employees, no place of business other than someone's kitchen table, and gross receipts of less than to much less than $5,000 per year.
In reading your comments in this post and your previous posts, one would assume that the majority of the losses come from everyone else other than the entrepreneur, when that is not based in fact. In your post above focusing on startups (versus ongoing businesses), you once again state that the costs fall not on the principals, but others is just plain false when you see that the largest source of funding comes from personal savings, while bank financing is only 8%

I have already given you data. If you have a source that says otherwise, please post the source and data. Otherwise, your comments are just a bunch of hot air.

 
Old 07-22-2017, 08:56 AM
 
4,229 posts, read 1,907,654 times
Reputation: 3782
Your data are inappropriate, as has been repeatedly explained. They are used for diversionary purposes only. The facts once again are that very large numbers of small businesses fail Very quickly, that losses from those failures are extensive, and that the costs are borne by many who are not the failed principals due to the generous systems of business welfare that we have created in this country. Continued song-and-dance will not alter the situation.
 
Old 07-22-2017, 10:20 AM
 
437 posts, read 198,844 times
Reputation: 449
Quote:
Originally Posted by Pub-911 View Post
Your data are inappropriate, as has been repeatedly explained. They are used for diversionary purposes only. The facts once again are that very large numbers of small businesses fail Very quickly, that losses from those failures are extensive, and that the costs are borne by many who are not the failed principals due to the generous systems of business welfare that we have created in this country. Continued song-and-dance will not alter the situation.
You are the one singing and dancing and it is making you look foolish. You have nothing to back up your comments, nor to dispute the data given. You have been asked multiple times to provide any source, other than your own opinions to refute the data and you have failed miserably. The data clearly shows that the largest source of capital to start up a business is from personal savings, while bank loans are small in comparison. It is just a plain and simple fact. As I must point out again, you have taken this beyond just ignorance to that of a flat out lie.
 
Old 07-22-2017, 10:28 AM
 
4,229 posts, read 1,907,654 times
Reputation: 3782
Same old story, same old song and dance. It's bunk for reasons already enumerated.
 
Old 07-22-2017, 10:55 AM
 
437 posts, read 198,844 times
Reputation: 449
Quote:
Originally Posted by Pub-911 View Post
Same old story, same old song and dance. It's bunk for reasons already enumerated.
You haven't enumerated one. I am not sure if you have a reading comprehension issue, math issue, or just can't admit you are wrong. Here is a bit of help.

From the SBA:

"When a financial institution gives a loan, it wants to make sure it will get its money back. That is why a lender usually requires a second source of repayment called collateral. Collateral is personal and business assets that can be sold in case the cash generated by the small business is not sufficient to repay the loan. Every loan program requires at least some collateral. If a potential borrower has no collateral, he/she will need a co-signer who has collateral to pledge. Otherwise it may be difficult to obtain a loan."


Link:https://www.sba.gov/starting-busines...-your-business

From the previous link we see the breakdown of sourcing as follows:

Business Credit Cards- 2%
Home Equity - 3%
Other personal assets -6%
Bank loan- 8%
Personal credit cards -8%
No start up capital -25%
Personal Savings -57%

Simple math, Pub. Which is the largest number?

Also, keep in mind that we are only talking about small business, which usually has a higher risk factor versus larger commercial and industrustrial borrowers. Even when we look at the larger players, there is often collateral involved as we can look at the Fed data to see that it is common in this space as well.

Okay Pub. Show us your data. Still waiting.
 
Old 07-22-2017, 11:16 AM
 
4,229 posts, read 1,907,654 times
Reputation: 3782
Uber-redundantly irrelevant. One last time as you go off to the Ignore List...

What's relevant in this discussion are the hundreds of thousands of small businesses that fail each year, the disproportionate numbers of those failures that occur among the newest small businesses, and the fact that -- thanks to our generous business welfare systems -- so much of the costs of those failures falls not on the principals, but on other elements in society.

What's not relevant in this discussion are the millions of in-name-only small businesses that have no employees, no place of business other than someone's kitchen table, and gross receipts of less than to much less than $5,000 per year.
 
Old 07-22-2017, 11:52 AM
 
15,616 posts, read 9,162,577 times
Reputation: 67792
A few of you might think you're coming across as witty and erudite but you've got another think coming. Please stop derailing threads with your personal vendettas and obsessions with this or that poster.
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