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Is it true that a business cannot survive if it's purpose is something other than making a profit?

People keep putting down my dreams of owning a small business that is a coffee house. I just want to be able to live a decent life, and run my business, make an impact in my local community, and have it as a cultural center. I don't care about making a large profit, but everyone keeps saying business is only to make a profit, and on top of that, no bank will ever loan me money unless i am in it to make money.. Someone with experience let me know if my dreams are as silly as everyone says!

Public Comments

1. Why can't you do both? There's no reason that your dream cannot also be a profitable business. And yes, no bank will fund a dream for dream's sake. Talk to someone in your area that is connected to the small business administration. Some universities offer free services for people who are wanting to start up a business. They'll guide you through a business plan that you'll need to take to a banker.
2. There are hundreds of thousands of businesses that have a purpose other than making a profit. They're called nonprofits. You could run your coffee house as a nonprofit, I suppose. You'd still need to make money. Either way, you don't have to aim to maximize your profits but you do want to make enough profit to support the business and provide for your living expenses.
3. Totally untrue, I am actually doing the exact same thing myself. A good heart is great start! If your business pursuit is a noble one, and seeks to provide for a need (culture center) then there is always funding. Grants, the fed, and even private donors seek to fund such establishments. If your not looking for huge returns from your business and more resources for funding, a not for profit would be the way to go. A small for profit business is still fundable. Investors just want to know if they fund you theyll get something back in the end or at least over time. Adequate planning and researching to say "hey if you give me 35,000 now, itll be paid back over the X amount of time in X amount of installments" would be a good way to break the ice. Of course your credit history, collateral, and other small details can be determinants. Dont ever give up, there are A TON OF RESOURCES out there. GOOD LUCK AND FOLLOW YOUR DREAMS!