On Mon, Jan 19, 2009 at 1:34 PM, Elias Bizannes <[email protected]> wrote: > What do people think about NAB's young entrepreneur program? > http://www.nab.com.au/wps/wcm/connect/nab/nab/home/about_us/4/3/2/2/
To me it seems good. Might take a crack at it. Only problem is which business to point it at :D > You get a loan of up to 20k. The conditions seem fairly lax, with the > biggest stumbling block being your age (ie, 30 and under). > (hat tip to the switched on @Mister_Black who just notified me) > > I've got mixed thoughts. > - 20k is literally startup costs, so you need to be very careful. Need a lot > of focus on how you spend it. Sure, but true of any loan. > - 20k is perfect for a loan. It's not a massive amount, that will send you > broke if you fail. Indeed. > - 20k is something I could raise from family, friends and myself with easier > terms. I could sell my car and get that - why would I commit to a bank loan > of only that amount, if I was that serious in starting a business? I could raise >20k selling my house, but I'm not going to. I need somewhere to live. I need a way to travel, so I won't sell my car (probably). You shouldn't need to give up your life to start a business; and there is no way I could raise anywhere near 20k from family or friends. You must have rich ones :) > - Perhaps the real benefit is the terms on the loan, but I am not sure that > they are that much better than a business loan Seems better to me, in that they aren't asking for 2 years history. > At startup weekend, we had several team products in 24 hours with minimal > costs. Some of the products where bench marked against other efforts that > individuals had been involved in (like iPhone apps) and the weekend beat it > by months (and naturally cheaper if you measure opportunity cost). > > Thought I'd put it out there and get people's thoughts. I want to find > solutions to building entrepreneurialism in the Aussie Internet sector, and > questioning these things helps me understand what we really need for silicon > beach. > > -- > Elias Bizannes > http://liako.biz -- noon silky http://www.boxofgoodfeelings.com/ --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups "Silicon Beach Australia" group. To post to this group, send email to [email protected] To unsubscribe from this group, send email to [email protected] For more options, visit this group at http://groups.google.com/group/silicon-beach-australia?hl=en -~----------~----~----~----~------~----~------~--~---
