We are still in the start up phase having started in Feb. of 2015- we haven't actually sold anything yet. Should I add the business to my resume for loan applications?
I started my last company and grew it with $20,000 to $12 million in 10 years. And while I was in the early phases, I did put in on my resume..
So, I believe you should. If it is a registered business entity and you are working it, it is still what you are doing, regardless of revenue of the company. If you are performing the tasks in your position, it shows you have been attempting to launch as well as (hopefully) prevents any gaps in employment. It also shows a level of commitment to your venture.
We specialize in assisting startups with business plans and structure, so fee free to contact me for additional questions.
I have been on that road not so long ago. Adding a startup can (at least in Europe, especially in France) be double sided.
As you haven't sold anything yet, you will be seen and judged from your potential (C.f. Uber, Amazon, in a much larger scale), shall you work on your pitch and your writing to transmit your message the right way.
Founding a company also requires strength and resilience, skills you’ll have to show through your application, as well as conservative and reachable goals not to freak out the person that will read you.
don't hesitate to reach out for more
Any loan application will ask you what is your full time occupation. If 100% of your focus or more than 70% is on that startup, you need to disclose. They need to understand where your revenues are coming from.
It's actually a legal obligation then to disclose it.
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