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Fortune 500 Companies and the Third Reich « Fear of Ignorance

Payday Loans Solve Your Financial Problem « Jurnal Kedokteran Indonesia

Many peoples in the whole worlds need some money very fast for their emergency like accident, injury in the hospital or their stuff credit. Now, thats no problem again. Cash advance will help you to solve your problem with their payday loans. The advantages are consumers will get fast money, and they can’t wait for payday. Just applying for a cash advance payday loan via the internet is a fast way to fund a personal checking or savings account. There is very safely and securely.

Payday loans are the best alternative to get your checks, selling personal property for less than it is worth, or uncomfortable situations like borrowing money from your firends or your family.

They have listed with several of the better and more economical cash advance marketing sites on the Web. Each offers advantages that suit your needs. Its include Additional Earnings, Cash Loans of America, Silent Cash Loan Cash Advance, Urgent Cash Relief Cash Advance, Check Cash Central Cash Advance, and First Eagle Cash Loans. You can get more information if you visit their site.

I think this is a very lucrative business. I wonder where I can find infos for this kind of business… this is like Pawnshop Business in the Philippines.

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When I was in the Philippine, (now in Dallas, TX) I was in looking for business partners here in the USA but aparentmly can’t find one or maybe its just that i don’t know how to find one. Well I’m already here in the US of A but still I can’t find one. Maybe its just me…

 Well I want to know where to find them and I hope I can find one to put up a business in the Philippines.

Any business at all as long as its viable in the Philippines. Whether in manufacturing, Financial institution, or Services, Printing, etc… outsourcing, etc… as long as its viable.

If somebody here in US needs a wholesale product , raw materails, etc from the Philippines and needs assistance and build long term ties I would be grateful to accomodate you.

I hope somebody can help me with this, or maybe enlighten me on these things…

Fortune 500 Companies and the Third Reich « Fear of Ignorance

… but I don’t have any startup capital « The Diary of a Young Entrepreneur

This is the first post of a new category that I just created. My hopes are to demystify EVERY single reason that makes a person hesitant to start a business. The first one I’ll tackle is the classic “i don’t have any money” excuse.

When I ask people about starting a business. The main excuse for them to not immediately start one is that they don’t have any money to do so. They then continue on to say that they will save up the money by working at a high paying job in a multinational company. classic and plain short-sighted.

So, is it really possible to save up some money to start a business by receiving a salary? The answer is quite obvious; no. The reasons:

• In the early days of your career, your wages won’t even add up to cover you living expenses.
• You’ll have to use your savings to pay for special events such as: marriage, birth  of a child, birthday presents, health bills and other emergencies.
• An increase in pay results in an increase in expenses. (trust me, this really happens)
• Have you even calculated how long it will take to save up for startup capital? did you include the inflation factor in it?

Almost every single rags to riches story started out with no startup capital whatsoever. Those brave people thought of a great business idea and pitched the idea to investors, banks or anyone that will give or lend them the money necessary to start a business. Sure there are some people, like T.P. Rachmat, that started out as an employee and end up to be a very successful businessman. But you probably didn’t know that he too didn’t fully 100% fund his business with his own money.

Working to save up some money for future businesses also has its risks. The main risk is that if the business fails, your savings would have evaporated just like that. All of that hard work poured in many many hours of labor and sweat gone in a matter of months. If that were to happen, wouldn’t you wish you knew better and asked for Other People’s Money?

The point here is that you don’t have to use your own money to start up a business. The concept of using Other People’s Money is actually a common practice in the business world and is maybe the ONLY way to start a business right. If you don’t like banks, find an investor. If you don’t want to relinquish a part of your company to investors, find an angel. Starting a business is about having a business idea, not about having the capital to start it up. If you have a great idea, people will help.

godspeed

To me the most profitable business in the Philippines right now is “pawnshop!” You know why? because whenever inflation increases value of your money invested on those jewelries increases… and to me its a no loss business after all, discounting the fake gold/jewelries you get, of course its normal for you to be tested by con artists for those and you will learn from it. After all with all those money invested in your vault discounting the losses at the end of the year you can still call it a GAIN. Of course you don’t want to loss money, so you have to do well with your appraisal and judgement, and maybe iinvest on a Densitometer. 

Usually pawnshop business peaks every December for christmas and new year, january when students start to go back to school, Planting Season when farmers need money to buy seeds, fertilizers, etc.  March-for the graduation day, and June during enrollment time. During these time people need easy access to cash thats why they need to pawn their gold.

With my experience as an appraiser, vault keeper, and personnel. I can say its a very profitable business in any times. Whether in bull or bear. 

I was watching cnbc while donald trump said this (below), and I think its true!

The harder you work the luckier you get.

We have a previous discussion on the regulation of the business of lending (Part 1 and Part 2 ). On 22 May 2007, Republic Act No. 9474, also known as the “Lending Company Regulation Act of 2007,” was approved. The law is consistent with the declared policy of the State to regulate the establishment of lending companies and to place their operation on a sound, efficient and stable condition to derive the optimum advantages from them as an additional source of credit; to prevent and mitigate, as far as practicable, practices prejudicial to public interest; and to lay down the minimum requirements and standards under which they may be established and do business. Here’s a basic discussion of the law:

What is a Lending Company?

It refers to a corporation engaged in granting loans from its own capital funds or from funds sourced from not more than nineteen (19) persons. It shall not be deemed to include banking institutions, investment houses, savings and loan associations, financing companies, pawnshops, insurance companies, cooperatives and other credit institutions already regulated by law. The term shall be synonymous with lending investors.

What is the form of organization for a lending company?

A lending company shall be established ONLY as a corporation. Existing lending investors organized as single proprietorships or partnerships shall be disallowed from engaging in the business of granting loans to the public one year after the date of effectivity of the law. No lending company shall conduct business unless granted an authority to operate by the SEC.

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What is the capital required for lending companies?

The minimum paid in capital of any lending company established under the law is One Million Pesos (P1,000,000.00). Existing lending companies established and in operation prior to the effecetivity of this law shall comply with the required minimum capitalization within such time as may be prescribed by the SEC which time shall, in no case, be less than three years from the date of effectivity. The SEC may also prescribe a higher minimum capitalization if warranted by circumstances.

What is the citizenship requirement?

Upon the effectivity of the law, at least a majority of the voting capital stock shall be owned by citizens of the Philippines. The percentage of foreign-owned voting stock in any lending company existing prior to the effectivity of the law, if such percentage is in excess of forty-nine percent (49%) of the voting stock, shall not be increased but may be reduced and, once reduced, shall not be increased thereafter beyond forty-nine percent (49%) of the voting stock of the lending company. The percentage of foreign-owned voting stocks in any lending company shall be determined by the citizenship of the individual stockholders. In the case of corporations owning shares in a lending company, the citizenship of the individual owners of voting stock in such corporations shall be the basis in the computation of the percentage. No foreign national may be allowed to own stock unless the country of which he is a national accords reciprocal rights to Filipinos.

What are the prescribed amount and charges on loans?

A lending company may grant loans in such amounts and reasonable interest rates and charges as may be agreed upon between the lending company and the debtor. However, the agreement shall be in compliance with the provisions of Republic Act No. 3765, otherwise known as the “Truth in Lending Act” and Republic Act 7394, otherwise known as the “Consumer Act of the Philippines”. The Monetary Board of the Bangko Sentral ng Pilipinas, in consultation with the SEC and the industry, may prescribe such interest rate as may be warranted by prevailing economic and social conditions.

from: http://jlp-law.com/blog/basics-of-lending-company-regulation-act-of-2007-ra-9474/

I think the best business you can put up in the Philippines is lending money like Pawnshop, Lending Business, 5/6 (but thats too much), anything that pertains to money lending is the best business you can put in the Philippines right now but those kind of lending should include collateral so that when the loan defaults you have something in hand that is pgysical to sell inorder to retrieve your capital.

I know being the person who lends money to the people has a bad image but in reality this person has the value of helping this in need. As long as the interest rate is reasonable I think thats OK. So its ok to do this business because youre helping other people.

One of the greatest books I like to read is The Art of War by Sun Tzu…

who is Sun Tzu? Well he is a Chinese General centuries ago. He is the writer of this popular book. Though this Art of War a military book you can also use it on your daily living sme use it as their Bible. Even in business you can use it for profit. I can say you can use The Art of War in many ways, “it just depends on how you interpret it.”

Heres a link to Sun Tzu’s book “The Art of War” interpreted from chinese language to english. Taken from Project Gutenberg. Here’s your link to The Art of War book.