New to the small business game?
Learn how to keep your other financial goals on track with these tips from Lulu Kanters, a lending expert at Coastal Community.
April 2021 4 min read
Learn how to keep your other financial goals on track with these tips from Lulu Kanters, a lending expert at Coastal Community.
April 2021 4 min read
“It’s hard getting ahead, especially in today’s world. So I thought, why not go into business for myself, and turn what I love doing into my livelihood…”
These words might sound familiar if you’re a young and newly minted small business owner. In fact, this sentiment is probably the inspiration behind many of the enterprises established in 2020 by Millennials wanting to create their own fulfilling work.
As a lender helping these up-and-coming small business owners, I’m amazed at their ambition and courage. But part of my job is to have important conversations with them on the realities of owning a small business in relation to their other goals (like buying a home or a vehicle, or paying down debt).
Here are the top tips I often find myself providing to young business owners to help set them up for success:
I find that many young business owners often don’t know where to start when it comes to assessing what they need financially—and that can lead to inaction. Our quick and simple online quiz can help you immediately gauge your financial health situation. With this kind of knowledge, you’ll be better prepared to make plans and decisions for the benefit of you and your business.
Other topics to explore:
Writing a solid investment proposal
Turn your business debt into an asset
Accelerate your business's recovery during these challenging times
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