Recently this fall, I moved back to my childhood home on the south tip of Nova Scotia after being a round a variety of cities for college and internships, and had planned to start a business with my brother.That was three months ago, and now we’re no better off than where we were before.We have our business plan all ready and a small number of people who are interested in our services (photo/web/office networking services) but, this being a frightfully small and conservative town, mainly of fishermen and the like, the idea of “new technology” sounds great, but the banks and government loan places, which are run by heart-stoppingly inane and/or inbred people (no, I’m not exaggerating, this is a small town, remember?), are saying “This town’s too small for that here,” which means no start-up money.

So, my brother had to get a job, which isn’t that easy here, and now I have to either find ajob or move out back to the city.I would really rather stay here, but with no work, it’s not possible, and I have next to no money left to move…my family is here, and they’re no better off than I am, money-wise, and I can’t qualify for income assistance until I’m completely broke (“you still have money , you can’t qualify yet!”), which doesn’t give me a whole lot of options…sigh…any ideas on solving my dilemma?

Frustrated Acadian

Dear Frustrated,

Have you considered soliciting private investors for capital?You could continue to live with your parents, using your small town as your operations base, and meet with business owners and venture capitalists – both locally and in the city – to pitch them your idea.You’d have to give up a measure of control over your business, but if the banks won’t give you a loan, it’s probably the only way to get the thing off the ground.

If that doesn’t work out, move back to the city and get the highest-paying job you can manage.Revamp the business plan so that you have time to accumulate some savings, and use your savings to launch the business in a couple of years.

You could also browse around on this site – it’s for entrepreneurs in the US, but you still might find it helpful.I know how daunting launching a business can be; good luck to you and your brother.

[9/27/00]

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