Lithuania-based entrepreneur and Instagram influencer, Tomas Samalionis has enlisted the common financial challenges young entrepreneurs face in today’s time. While his interaction during an interview, the entrepreneur also shared his entrepreneurial journey and his decision to embrace the tag of ‘Self Employed’. Tomas Samalionis has also shared some of the strategies and tips to succeed in the entrepreneurial world.
While enlisting the financial problems encountered by young entrepreneurs, he said that it is very difficult for a new entrepreneur to arrange the necessary funds to invest in his venture. Further, he added that a new business takes some time to grow and most of the young people fail to invest the required amount of money in order to continue their efforts. And moreover, the mental pressure due to negative remarks, self-doubt, and fear of failure simply makes it difficult to maintain a positive mindset in the face of challenges.
Tomas Samalionis has also mentioned that young entrepreneurs don’t have enough savings to arrange emergency funding to invest in their business at the time of any significant loss. Talking about another financial challenge, the entrepreneur said that young entrepreneurs face a poor credit history problem because they don’t have enough time to improve their credit history. He said that it is not the case with older entrepreneurs as they get sufficient time in their career to hide financial mistakes by maintaining a good credit score.
Popular on Instagram as @samaslife, the entrepreneur has added that it is the fear of debt that has been a significant factor responsible for the failure of many new ventures. Tomas Samalionis said that while opting for a short-term business loan, young entrepreneurs find it difficult to maintain their confidence and get nervous due to the fear of the debt accumulation if their idea doesn’t work.
Tomas Samalionis had worked in the steel industry in the past and he left his job to pursue his passion in the business world. In addition to this, he also dived into the musical pursuits and released his first EP namely “Magically” on Italian Label Boiler Underground Records.
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