From studying the Bible, I have found many biblical principles to help me run my business.
However, there are some major principles that have stuck out to me as differences between God's way of doing business and the World's way of doing business.
One of those ways is the principle of not using debt to start and run your business.
Look at Deuteronomy 28:12,
However, I don't believe borrowing money is sin, but it is certainly not God's way of doing business.
When we borrow money, we are substituting borrowed money for Faith.
God's desire for us is to have Faith in Him to obtain whatever resources we need to fulfill the vision He has given us.
Why? Because in Matthew 6:24, Jesus tells us that we can't serve two masters.
Either we will service God or money.
If we serve money, then we will do anything for money.
When we rush into debt to answer our needs in business, I believe we are making the choice that we believe debt can solve our business problems, instead of God solving our business problems.
So although borrowing money is not sin, let's trust God instead to get the money to us.
Proverbs 22:7 says "The rich ruleth over the poor, and the borrower is servant to the lender.
" This applies even in business.
Instead of borrowing money, let's start small and grow.
A good way to stay out of debt (and remove the need to use debt in your business) is to save up money before you get start in business and while you are in business.
Having cash saved is vital to the survival and prosperity of your business because the business cycle contains highs and lows.
The key is to have business savings to smooth out the highs and lows, and your savings also allows you to take advantage of bigger business opportunities when they come around.
Therefore, each month a percentage of profits should be set aside for growing your business savings account.
Your goal is to save enough money equivalent to your annual expenses.
When you do this, your business is able to function with a one (1) year cushion.
However, there are some major principles that have stuck out to me as differences between God's way of doing business and the World's way of doing business.
One of those ways is the principle of not using debt to start and run your business.
Look at Deuteronomy 28:12,
The LORD shall open unto thee his good treasure, the heaven to give the rain unto thy land in his season, and to bless all the work of thine hand: and thou shalt lend unto many nations, and thou shalt not borrow.It is clear to me that borrowing money is not God's best for us.
However, I don't believe borrowing money is sin, but it is certainly not God's way of doing business.
When we borrow money, we are substituting borrowed money for Faith.
God's desire for us is to have Faith in Him to obtain whatever resources we need to fulfill the vision He has given us.
Why? Because in Matthew 6:24, Jesus tells us that we can't serve two masters.
Either we will service God or money.
If we serve money, then we will do anything for money.
When we rush into debt to answer our needs in business, I believe we are making the choice that we believe debt can solve our business problems, instead of God solving our business problems.
So although borrowing money is not sin, let's trust God instead to get the money to us.
Proverbs 22:7 says "The rich ruleth over the poor, and the borrower is servant to the lender.
" This applies even in business.
Instead of borrowing money, let's start small and grow.
A good way to stay out of debt (and remove the need to use debt in your business) is to save up money before you get start in business and while you are in business.
Having cash saved is vital to the survival and prosperity of your business because the business cycle contains highs and lows.
The key is to have business savings to smooth out the highs and lows, and your savings also allows you to take advantage of bigger business opportunities when they come around.
Therefore, each month a percentage of profits should be set aside for growing your business savings account.
Your goal is to save enough money equivalent to your annual expenses.
When you do this, your business is able to function with a one (1) year cushion.
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