During the recent "Q" Breakfast hosted by Volusia County, a key discussion emerged around the financing strategies of local businesses. One entrepreneur shared insights into her journey of building a successful company without relying heavily on loans or outside investors.
When asked if she needed financial support from banks or investors, she confidently stated, "No, I did it all on my own, because I spent very conservatively." This approach allowed her to grow her business organically, using personal funds and a cautious strategy to ensure sustainability. She emphasized the importance of having a backup plan, mentioning her previous work as a chemist, which provided a safety net while she developed her business.
The entrepreneur acknowledged that while she did borrow a small amount initially, the bulk of the funding came from her and her husband. They invested their own money to reach a point where they could manufacture their product. She also noted that they chose to remain debt-free, which has been a significant factor in their growth strategy.
This discussion highlights a growing trend among entrepreneurs who prioritize financial independence and sustainable growth over rapid expansion fueled by debt. As local businesses continue to navigate the challenges of the market, this approach may inspire others to consider similar paths.