It occurs to me to mention that there are various "microloan" programs available in the US and many other countries, especially developing countries. The United States Small Business Administration has some information about just
one of the many programs in the US.
One of my Canadian correspondents is a regular investor in one such program through a NGO (non government organization) he supports and recently reported he had actually received a return on his investment so far.
The beauty of these programs is that they "force feed" sustainable business practice knowledge to loan recipients which is germane to their locale and culture.
One charity I support, Heifer International, does something similar for recipients to raise livestock. In Heifer's case, we "investors" don't get a return, but the recipients are duty bound to "pay it forward."
There was a time twenty-five or thirty years ago, when I was at the height of my investment banking career, that I was VERY cynical about such programs which dealt in relatively miniscule amounts, but successful history of many of these programs has changed that opinion.
I agree the odds are stacked against any budding entrepreneur who enters into a venture without a plan, but it could work out if the entrepreneur is a quick learner and willing to change course in midstream based on new information received during the startup period.
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