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Need business advice

Discussion in 'Business & Tax Advice' started by lilpuable, Jun 9, 2013.

  1. lilpuable

    lilpuable Newbie

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    Hello BHW members,


    I'd like to ask your counsel to help me decide to start the following project or not.
    In my country there's a grant to help young persons to become an entrepreneur (it is part of a bigger plan aiming to create more workplaces). The amount of the grant is approx. $15,000 usd. If you earn it, you should use to money to start a new micro-enterprise.

    So I'm thinking about applying for this grant and start a local vpn service. There's only one major VPN service in the country at the moment (+ few smaller player, or they're present at other markets too), so the market competition is fairly low. Also, the demand for such service is relatively high.

    I don't have much experience with VPN's but how I imagine it it's a set it up and forget type of business, I mean there will be some computers in a room and a service will be running on it which people will pay for to use.
    Also, the operative costs are fairly low (internet, electricity, maintenance) once the service is running.


    Do you think it's a good idea? Are my preassumptions about running a VPN service right? If there's anyone experienced with vpns, please correct me if I'm wrong.

    Also, what other scenarios can you imagine? What type of micro-business would you start with $15,000? It is important that once it's set up, it shouldn't require too much attention (I have school obligations) and preferably it should be a one-man scenario (I don't want to pay employees).

    Many thanks in advance.
     
  2. Beven

    Beven Elite Member

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    Holy shit your country gives you $15,000... just for free? In one lump sum?

    It sounds to me like it could be a good idea as from what you've said there's a lack of competition
     
  3. lilpuable

    lilpuable Newbie

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    Sorry I haven't been specific about the details of this grant.
    Basically it's a tender which has a very strict requirements structure (you have to make a very detailed business plan, with vendors etc.) in order to earn this money.
    And no, it isn't a lump sum, you can get 25% in advance and the later payments are bound to 'milestones' specified in business plan... But yeah, basically it's free money
    It's just partly from my country, majority of it comes from the EU
     
  4. Alpha.

    Alpha. Power Member

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    We had a similar program here in my area, huge requirements (business plan, financial plans etc...) I signed up for it and received 1400€ per month for 7 months, nobody checked into what I was doing even ONCE after it was granted! If it's not some sort of loan in any way, go for it.. What do you have to loose??