How Futurepreneur really just creates leads in business financing?

How Futurepreneur really just creates leads in business financing-.png

Hey guys so in 2015, I started to work with Futurepreneur and some of their affiliates in small business development. 


I see these Futurepreneur ads going around on Facebook trying to encourage people to develop and pitch their starter business ideas. Personally I tried to start a business in 2015 in digital advertising, website publishing & customer service. However, what is the reason the government & banks try to push you to start a business? They want you to apply for a loan and pay it back with interest.  Just look at the Partners involved with Futurepreneur. 

Funding partners.png

CIBC, TD Bank, Scotia Bank, RBC, BMO all offer lines of credit to get a business off the ground, buying labor, land and capital. Basically they are supporting a method in which these companies can qualify their own business loan leads.  What they want before you can apply for a loan? They want you to invest $1000 in capital, create financial documents, develop a strong business plan and provide collateral. Weather you pay back a loan on time or not it doesn’t matter all the matters is the loan generates revenue of some kind. 

What is the cost of a small business loan? A bunch of variables will apply. Credit scores, the interest rate you are approved for the amount of the loan and the capital already put in the business.  However the below image shows the cost of a small business loanwith RBC if paid over a term of 3 years. 


Refer to business loan calculator.png

“Business or Hobby? Answer Has Implications for Deductions.” IRS.Gov, 26 Sept. 2017, The IRS page outlines some good guidelines on weather something an activity shouldbe declared a hobby or a business. I will apply these guidelines to weather someoneshould apply for a small business load with a Canadian bank. The article outlines thatf or something to be declared a business it should make a dependable income, are there future profitability potentials that can be justified with logical forecasting doesthe business make a consistent profit?

Some other good points to add are does your business create an elastic demand product or service? Or is the demand inelastic? Are you selling bongs online? Or are you filing taxes? Taxes are inelastic demand , bongs are elastic demand.  If your business is inelastic with unpredictable incomes & failing sales quotas. Don’t bother submitting a complicated business plan  & looking for a loan, because you have a hobby!

Are you more focused on sales or executions? If you care more about the website setup, but have no deadline for your marketing and sales plan. You probably only have a hobby.  If you spend time at social events, taking orders and haven’t really had the time to work on the digital aspects of your business. You probably have more of a career. The reason this is important to create a precise distinction about is because you can really screw yourself over financing and getting credit for something that should  have never been taken as seriously as it was.

Then bankruptcy comes in, because you can spend too long or get a loan for too much and have product that was never really marketable. At this point you either endlessly pump in capital, or you apply for bankruptcy to try and escape crushing debt.   Get out while you can! How I became involved with Futurepreneur? I actually submitted my website management portfolio to a job in web management for them . I was declined for the job but I was brought in as a perspective entrepreneur. I was told to develop my idea and keep coming back for meetings so I could start my own digital marketing agency.  

Side question? Why would someone denied me a job in website management then tell me I should start a business to make that my main product? Answer, the goal is to create potential loan applicants. Not to start sound businesses. That is why the program does not end up working and creating a business that lead to long term financial success. 

I spent 2 years on the idea, got one client at Thankfully I did not file for a loan, I used a credit card for some of the business operations. Then in 2016 decided to downsize my project due to digital advertising fraud, poor Facebook advertising results and a changed philosophy in advancing my career. Honestly my realization I don’t want my own small business came along  because I took a business course, then an economics course and I got a higher grade in accounting than I did in my Marketing courses at  Seneca College. Finally I realized my most employable skill is customer service and I can take that to the financial sector and turn it in to a employment with real long term gains.

After going back to school in 2017 I wanted to talk about what I have learned about small business development and perhaps tell you that it may not be the right solution for you. If you want to talk to me about your small business idea, text me at 647-850-6802. I have experience in customer service, sales, small business development and in 2018 I will be looking to be employed in loan services for a major bank. 



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