‘I want to run a business but I am afraid of losing money. What should I do?’

Content image - Phnom Penh Post

‘I want to run a business but I am afraid of losing money. What should I do?’

Sim Sofeya, a 21-year-old student majoring in tourism and hospitality at the National University of Management (NUM), is ambitious as well as scared.

Sofeya told LIFT: “I want to have my own business because I think having your own business can make you rich more easily.” But, at the same time, it could ruin your finances if the invested money is lost. Sofeya is afraid of that.

She would like to open a seafood restaurant – but would it return her investment and make her rich on top?

Content image - Phnom Penh Post

Opening a business is risky business, and the decision has to be made carefully.

“I am really afraid of opening a business since nothing will be the way it was before. If I am not careful enough I am going to lose everything,” she told LIFT.

She stated that the reason why she wanted to open a restaurant was because some of her friends have been successful in the hospitality field and didn’t have to invest much capital because they started small and expanded later.

With concerns and ambitions fighting each other inside her, Sofeya believes that even if she gets enough money she will not open a business in the near future. Still, Sofeya is trying to save money in case she decides she really does want to open a business. “I save every penny by not eating outside home or spending money on unnecessary things so I have enough to open a business one day,” she said.

Sofeya needs good advice. Should she take the risk and open a business?

MOST VIEWED

  • ‘Dire consequences’ from sanctions, warns AmCham

    American businesspeople in Cambodia have warned that any sanction against the Kingdom would have “dire consequences” that could push Cambodia even further into the arms of China. In a letter to US senators and representatives dated Monday, the American Chamber of Commerce Cambodia (AmCham) said

  • Protests planned in New York as Hun Sen to attend the UN

    Prime Minister Hun Sen will speak at the United Nations General Assembly in New York this week. But US-based supporters of the Supreme Court-dissolved Cambodia National Rescue Party (CNRP) plan to throw eggs at his car as part of a series of protests to coincide

  • CPP: ‘Behave or Sokha suffers’

    The ruling Cambodian People’s Party (CPP) spokesman warned Kem Monovithya on Thursday that her attempt to damage “national reputation and prestige” would lead to her father, Kem Sokha, receiving even harsher punishment. Sok Eysan issued the warning as Monovithya, who is the court dissolved

  • News Analysis: Defiance can last for how long?

    The Cambodian government has so far stood strong in the face of mounting international pressure over its treatment of critics, but analysts, diplomats and ruling party officials now wonder how long the defiance can last. The European Union has led the firestorm of criticism, threatening