Can we run a business without borrowing?

[Shigobad20201]

We are normally from a different family background and we are more financially buoyant from one another , there are people that can start a business conveniently but some cannot start if they don't borrow,

 

[Laurentta]

Yeah, i believe it's possible to start a business without borrowing. It will just take a lot of hardwork, determination and also saving up.

 

[Sotherefore]

Business was not meant to be established with borrowed money or to borrowed money for its maintenance. You can start up a business with your fun without having to borrow, as long as you are discipline and determine

 

[Shigobad20201]

The plan you have your business is very important and the business plan will be the main reason to know if you are going to borrow for your business or not , the money needed for the business and the fund you have as the owner of the business will be the final determinant to know if you have to borrow or not,

 

[joy101]

Yes of course, because is not really good to start up a business base on borrowing money, I can't advice anyone start up a business with borrowed money is not advisable so you have to save enough money before going into it.

 

[Shigobad20201]

The type of business you are planning to start will depend If you are going to borrow a laon or not , the business plan will give you the rough estimation of how much you need to start the business , and If you don't have enough money , then you need to do crowd funding or borrow a loan.

 

[glitch]

Yes, but it is hard. I have only known of one person personally who was able to do this but even then, he needed to sell his house to use that money to afford it. He downsized his home and used the $80k to start his business.

 

[tyrim88]

Yeah, I really do think it's possible to run a business without having to borrow any money as far as you have enough money on you to run the business. Borrowing is only an option it you lack the required revenue, but if you have it then borrowing won't be necessary

That is very much possible in business,because it is one way to actually aviod going into debt,especially if the business is stilll at the infancy stage,to remedy that one can leverage on partnership for the funding of the business.

 

[Godspower]

That is very much possible in business,because it is one way to actually aviod going into debt,especially if the business is stilll at the infancy stage,to remedy that one can leverage on partnership for the funding of the business.

It might be very difficult to run a business without any form of borrowing. However, if you must borrow, it should be from friends or family and not from financial institutions.

 

[joy101]

If you have your own there not be any reason to borrow loan , you borrow when you have a enough money to start up your business so if you have your money you dont need that

Borrowing to start up a business is not that advisable because it's sweet one to borrow a loan but the time to pay can be very very difficult to pay back, that is why I don't really advise anyone to have that idea of taking a loan to start up a business.

 

[Danny4cash]

It's possible to run a business without borrowing. I have alot of friends who run business without borrowing. What is must important is plan. If you plan ahead very well, there will be no reason to borrow to run your business.

 

[Godspower]

It's possible to run a business without borrowing. I have alot of friends who run business without borrowing. What is must important is plan. If you plan ahead very well, there will be no reason to borrow to run your business.

It may be difficult to run a business without borrowing from external sources. However, if you're able to be frugal and manage your resources well, then getting loans or borrowing will be less likely.

 

[tyrim88]

It might be very difficult to run a business without any form of borrowing. However, if you must borrow, it should be from friends or family and not from financial institutions.

One of the mistakes most new business start ups do not really understand is that,foe an emerging business,what one needs is to really undertand the market very well and maintain a structure of how the income flow is coming before going for loan.

 

[Danny4cash]

It's very possible to start a business without borrowing. I'm an advocate of starting a business with the little money one have then after understanding the business, you obtain loan to expand it.

 

[Shigobad20201]

The only way i know you can start a business without borrowing is only if you get people to invest in your business which will be a good way of making money for your business.

 

[Chibson]

it is not a must that you must borrow money before venturing into a business. So many people have been able to run successful businesses without borrowing money from anywhere. But that does not mean that borrowing is bad but using your personal savings can be better.

 

[Godspower]

One of the mistakes most new business start ups do not really understand is that,foe an emerging business,what one needs is to really undertand the market very well and maintain a structure of how the income flow is coming before going for loan.

This is a very good observation. You have to study the cash inflow and outflow very well in order to really understand the financial needs of your business before deciding on whether to take loans.

 

[tyrim88]

This is a very good observation. You have to study the cash inflow and outflow very well in order to really understand the financial needs of your business before deciding on whether to take loans.

The ability to repay is the confidence behinde the record books of the organisation,because it is something they have been doing overtime,taking loans would not be an issue provided they know where the revenue would be coming from.

 

[Shigobad20201]

it is not a must that you must borrow money before venturing into a business. So many people have been able to run successful businesses without borrowing money from anywhere. But that does not mean that borrowing is bad but using your personal savings can be better.

Most people always have the mentality of borrowing money when they heard the word business , when they failed to realised that you can actually saved up for your business.

 

[Sincerem]

When you have saved up the money needed to start up the business you are interested you wouldn't even have problems to borrow money from anyone. Yes business can be start without borrowing.