Tag Archives: starting a new business

‘Family Discount’? When and How to Say No to Freebie Requests | Business News Daily

When you start telling your friends and family about your new small business, at least a few of them are bound to ask — perhaps only partly in jest — about a “family discount” on your products.

What’s a small business owner to do when family, friends and even casual acquaintances ask for discounts or freebies? If you offer your services or products for free or for a deep discount, you may hurt yourself financially, and over time, you may even begin to resent people you love. On the other hand, you don’t want the people in your social circle to think that you are selfish or ungrateful, especially if they have supported your entrepreneurial endeavors.

Though there is no one-size-fits-all solution that will work for all entrepreneurs or in every situation, there are lessons to be learned from fellow business owners who have faced the same dilemma. Here’s how to turn a potentially uncomfortable conversation into a transparent and productive transaction that honors some of your most valued relationships.

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Student Loans Stunting Small Business Growth | Business News Daily

Student loans aren’t just negatively impacting you financially; they’re also hurting your chances of starting a new business, research finds.

Entrepreneurship is significantly hampered in parts of the country where residents carry more student loan debt, according to a recently updated study by researchers at Pennsylvania State University and the Federal Reserve Bank of Philadelphia.

For the study, student loan debt across the United States was analyzed by county and compared with small business creation in those areas. Researchers discovered that between 2000 and 2010 a one standard deviation increase in student debt reduced small businesses in those counties by an average of 14 percent.

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