Barkly Summary

This article talks about how startups are relying more on saving and credit cards, rather than funding, bank loans, and home equity. According to this article two people started their own company from their own savings and credit cards. Chris Gonzalez and David Comiskey started a dog walking service and app. They both together were able to chip in a total of $5000 in 2015 to launch “Barkly”. A year later they raised a total of $45000. This article very interesting because it provides many statistics of those who started new businesses within the last couple years. Simon and Overberg explain that women were found less likely to get bank loans, and more likely to use personal or family savings compared to men. Also only 12.9% of Hispanics and 15.2% of black owned businesses got bank loans compared to 19% of firms owned by whites. …show more content…
First it shows that starting your own business is not easy. One needs to put in many hours of planning and work, and it’s very costly sometimes. The owners of “Barkley” state that they didn’t invent anything but they just wanted their own business, and even with just staring their own business they had to pay around $5000. If someone was to actually invent something they would probably need around $25000 to be able to pay for machines, workers and any other expenses that may come up. Thus, starting your business is not easy and being an entrepreneur is even harder because that entrepreneur has to think of everything since he/she is the