Advantage of taking loan to start a business.

[Sotherefore]

The pressure that comes with taking a loan to fund or establish a business much too cope with. The energy you are suppose to use in making your business work out fine will be directed towards repaying the loan.

That is why long-term planning in a business is necessary and anyone who is getting a loan to start a business have not made an adequate preparation for the business, at least we should work for the money we need in establishing a business.

 

[Shigobad20201]

If people are not willing to support you then why can't you just work on your own and raise money to start up the business you dream of ? It could be risky if you are unable to pay back the loan you collected,it could end you up in jail

That's an important information you just passed across, I have been telling people that you can only borrow money to support a business and its not adviseabke to start up a business with a loan, what if theres complications and the business is not making sales in the first year, how will you return the money you borrowed

 

[Felixko]

there are many advantages of taking loan to start business. some may include enable an individual to obtained his or her wants. this is because, an individual may want to start up a business but he or she may not get money to start. but loan can equally help to solve this.

 

[Robust]

Advantages and disadvantage of taking loan to start a business is not a big deal, it's either your gain or lose and that's part of the rules and principle of business. Taking a loan helps very well and most especially if you have another means of returning back the loan.

 

[Queentener]

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.

I agree with you like from your own perspective I'll say you are correct because if you are given a loan to start a business I feel you be more serious with it because what will be on your mind is paying it back and that will help you build a business.

 

[Setho]

I would not want to see any one who is just starting a small business to take a loan. A Loan though can give you the advantage of securing larger sums of money.

 

[ahmedo24]

I agree with you like from your own perspective I'll say you are correct because if you are given a loan to start a business I feel you be more serious with it because what will be on your mind is paying it back and that will help you build a business.

You have a strong point here but the chances of people that survive business using this strategy are very low that's why it is not advisable.

 

[Hena101]

As far as I'm concerns there is no advantage in taking a loan to start up any business. Because when you start with loan and unfortunately you fall how can you start again? Taking another loan or what. Advisably just save money and start your business but if you can not save then take loan but I'm not in support of it.

 

[Queentener]

You have a strong point here but the chances of people that survive business using this strategy are very low that's why it is not advisable.

In life you take risk there is nothing assured in life even we talking, like sleeping and waking up is not assured so what is the assurance that if you didn't borrow a loan to start the Business that it will still work out it's either it works it's either it doesn't work.

 

[Setfragil]

While I am not a fan of collecting or borrowing of loans for doing business, the only advantage in an say on taking of loans for doing business is that, it makes money readily available to you to do that business

The only situation where I can advise or encourage someone to take a loan is when the person has a very good business idea that he is certain that he will makes profits that will help repay the loan on time.

 

[Kelly5]

But to be honest with you, the advantages in taking a loan is less when compared to that when you source for the funds yourself outside of taking a loan. You don't get to worry about paying back if you don't take the loan

 

[BTCBEE]

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.

to start a business its good that you have the option to take a loan but you must be aware of the interest and what you are going to earn from the business.

 

[Bookwormlux1]

If you take a loan to start a business, it would be easy to be disciplined the more since you already know that you have a balance to repay within some time.

 

[Robust]

Taking a loan to start a business is good and also bad. Loan help in setting up a business most especially if you plan well and you will pay back the loan without stress but profit.

 

[Shigobad20201]

Thanks for the wonderful comment , you must always think about the interest of the loan when borrowing money to start a business, always make sure to calculate calculate loan and the increment and see if the income of the new business can pay the debt.

to start a business its good that you have the option to take a loan but you must be aware of the interest and what you are going to earn from the business.

 

[Bookwormlux1]

Thanks for the wonderful comment , you must always think about the interest of the loan when borrowing money to start a business, always make sure to calculate calculate loan and the increment and see if the income of the new business can pay the debt.

Some people do not consider this factor and would be surprised when time to repay the loan comes and they don't have enough to repay.

 

[Emmado]

That would happen only when one does not have enough confidence about the potentials in the business that they are about to start using the money.

It might be true because if they are really seriously going into any type of business ,they will try as much as possible to raise money and start up the business themself, I don't see the need for waiting on someone all government.

 

[Setfragil]

If you take a loan to start a business, it would be easy to be disciplined the more since you already know that you have a balance to repay within some time.

Most times, taking up a loan to start a business will put unnecessary pressure on you which can makes you to take bad business decision simply because you want to meet up with your loan repayments agreement in order to avoid locking you up or your store.

 

[Kelly5]

Some people do not consider this factor and would be surprised when time to repay the loan comes and they don't have enough to repay.

That's the problem when it comes to taking of loans. The difficulty I repaying will not be obvious at that moment untill the time draws closer for the payment that's when one starts wishing they never collected that loan as things are not too often profitable as espected in a business that is new at that

 

[Bookwormlux1]

Most people take loans without having plans of repaying it, especially when it is an online platform that gave them the loan. It's not a wise decision at all.
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Most times, taking up a loan to start a business will put unnecessary pressure on you which can makes you to take bad business decision simply because you want to meet up with your loan repayments agreement in order to avoid locking you up or your store.

I agree with you seriously. That comment I made is usually what so many people have in mind when ever they talk about using loan to start a business .