Advantage of taking loan to start a business.

[Setho]

Advantage of taking a loan especially a business loan is that you are going to receive almost exactly the amount of money that you need and thought you will not want to compromise.

 

[Shigobad20201]

The advantage of taking a loan to start a business is that you dont need to start sourcing for means of getting capital for your business and you can start the business at once .

 

[Joseph555]

business has advantages and disadvantages though to me the advantages are more if one is very lucky , it make you to be more committed, serious and financially disciplined but before taking loan we should ensure the business is very lucrative, tried and tested.

 

[Agbalagbaa]

I don't really think there's any advantage of taking a loan to start up a business, if you are good at taking loans you'll not have the best results you want, that's not a good idea.

 

[Laurentta]

I honestly don't see any advantage of taking a loan to start up a business. I don't think there's anything anyone can say to convince me that taking a loan to start up a business is beneficial.

 

[nana kwasi1]

In actuality, time management is very important, and I always try to base my schedule on it. I do arrive at work at the appointed time in order to close on time and without adding any extra minutes.

 

[Skysaint]

I think the stress is that it would spare you the stress of looking for the money yourself or raising the capital yourself. I honestly don't see any other advantage to it.

 

[Shigobad20201]

If you want to start a business and the business is bigger than what you can imagine , For example if you are planning a huge business and the money you have is not sufficient to start the business , you can just get a loan to start the business .

 

[Sotherefore]

If you want to start a business and the business is bigger than what you can imagine , For example if you are planning a huge business and the money you have is not sufficient to start the business , you can just get a loan to start the business .

Although taking a loan may not be a bad idea sometimes , but proper analysis should be done to know when to take loan and when not to. It could has a lot of advantage but disadvantage might turn out to be the most striking.

 

[Ayojesu]

the only advantage is that, you have the money to start the business and if its a great business with good profit potential, you can offset the loan within a short period of time

 

[Planbizzle]

We are fully aware that starting a business with loan is most times unproductive because of the interest rate or have difficulty to break even at the right time. Despite these disadvantages there are still advantages like it make you to be more serious and committed and it build your financial discipline. Share your thoughts.

The main benefit of taking out a loan is that it enables you to make bigger purchases than you would be able to with your current cash. Money can be used to fund marketing efforts, personnel hiring, and supply purchases, all of which are crucial for any company to succeed.

 

[Connor909]

Many benefits, including greater funding, increased exposure, flexibility, liability-free access, and simple access to cash, might come from getting a bank loan to launch a firm. Also, getting a loan can help establish business credit, which later on may be helpful in obtaining additional finance.