In this episode Jay explains whether starting up a business with debt or by taking out a loan is a good idea. There are a lot of stories where successful entrepreneurs have said they’ve been in tonnes of debt and got themselves out of it because of their business and the debt’s helped them get to where they are. Jay explains why you shouldn’t listen to them and expresses his views on this subject…


  • There are lots and lots of stories where you hear people have been in tonnes of debt and now have a successful business and a lot of the time they lead you down a path where you may think you need to be in debt to start.
  • Do not take a loan or credit to start a business because 99% of these people who take out loans to start a business fail.
  • A good type of debt would be when you’re using the loan to buy an asset that brings in money. An example of this is property.
  • The best way to start up is to save the money yourself and know that you’ve worked hard for tat money rather than taking out a loan.
  • If you don’t have any money, then get your first client before starting your business, then scale up from there. Start slowly then build slowly and when you get the cash flow start investing.
  • You can save money up by selling things on Ebay or online. You can work really hard part time to get enough money to be able to save.


‘Having a start up business is hard but having a start us business and debt is even harder.’

‘You can raise money through joint ventures’

‘If you really believe in your product or service then it should sell that straight away’

‘Getting into debt is not cool, especially if you’re buying the wrong things’



Jay Dhillon is a serial entrepreneur, investor and philanthropist based in the UK with a proven track record of growing businesses from start-up to success- and helping others do the same. From humble beginnings, Jay grew his first business from 0 to 500 employees and three locations, racking up sales of over £30 million – all without any investment other than a small amount of savings. The business went on to acquire major clients such as Landrover, Jaguar, Toyota and New Look, to name a few.

Its huge success inevitably brought about outside interest, and at the age of 33, Jay eventually sold the company to a London investment firm in Doyen Resources. Today, Jay owns several businesses in different sectors and helps entrepreneurs achieve success.

A calling to give back and help others led to Jay being chosen for the highly coveted role as a Prince’s Trust mentor, where his achievements were marked by a personal invitation to Buckingham Palace to meet Prince Charles.

After helping several young entrepreneurs to success as a mentor for the Trust, Jay’s burning desire to bring his wisdom and knowledge to a wider audience ultimately triggered the concept of The Business Mentor Podcast.

Jay feels that anyone can achieve success in business with the right advice and mentoring and is now sharing his knowledge with his growing audience via his podcast.

In the UK alone, 95% of business fail within the first five years, and Jay’s aim is to reduce that number.

Backed with the hard-earned knowledge and experience from his time in business, The Business Mentor Podcast will share Jay’s personal business lessons as well those of other successful entrepreneur guests who share their wisdom and secrets on the show.


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