Do they not have LLCs?
replyOf course, but when getting bank loan(for the llc) to get started you have to give personal collateral.
replyI don't think any bank will give you such a huge personal loan that you could end up in debt for your whole life, since they typically want the loan repaid. The only way I can imagine that happening is if you're a sole proprietor and you get sued or fined. I can't think of another way to get exposed to that much liability.
reply100ke might be enough. Once the debt is in enforcement (ulosotto in Finnish), interest can keep accruing at roughly 10%. If your earnings are low, you can pay for years without reducing the principal at all.
replyWhat are you doing taking on that kind of risk and starting ventures if your earnings are low? I'm sorry, but if you're a delivery boy living from paycheck to paycheck, you should be trying to get an education, not start a business. That's true in Finland and in the US.
replyI don't think you understand Finland at all ;-) Even the delivery boy has a master's degree, that's not the issue.
replyShould get a second one, then, if that's the meta.
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