Getting a loan or Self Investment?

[ghxstvecna]

it is important for you to designate your contribution as either a loan with a contract or capital investment with proper paperwork so that the tax implications of the transaction are clear and you avoid any problems with the IRS. Loan vs. Investment: Risks and Benefits to you.

 

[Ronald]

choosing the right finance when starting a business is very important to be successful in your plans.

Some people use their own personal savings to provide for their own business but this can be risky and may not be able to cover all the funding you need that's why the other category of people takes a loan to get going.

What's the ideal choice for you?

everyone talks about the loans in his country to expand our knowledge, please

I think that using personal savings to start a business is more financially viable than requesting for loans because in recent times, the interest rate on loans has almost multiplied exponentially to the detriment of those who go for these loans

 

[Genie011]

You are right, even though I don't like the idea of debt. But if one would have a proper plan I believe that it wouldn't be a problem but rather a solution to his present needs.

Definitely, the ultimate aim is to be free financially and if taking debt would aid one into archiving the aim, I don't think it would be bad to give it a shot .
With proper planning it would work eventually

 

[Yohanna]

Definitely, the ultimate aim is to be free financially and if taking debt would aid one into archiving the aim, I don't think it would be bad to give it a shot .
With proper planning it would work eventually

It is understandable that taking loan is one of the best ways to alleviate poverty.
Loan could also be catastrophic if you do not know how to plan the use of the loan properly.

 

[UsmanAmoyo]

It is understandable that taking loan is one of the best ways to alleviate poverty.
Loan could also be catastrophic if you do not know how to plan the use of the loan properly.

I truly agree with you, it can be very catastrophic and the end result may not be likely in case the business fails or some mishap of life overwhelms one.

 

[joy101]

I have never been in favour of borrowing money from people. I borrow a really tiny amount of money in order to deal with the problems I face, but I do not borrow money that I cannot pay back.

Likewise me too, for me I like self investment I like to saving money before I can think of going into business, because for me I hate the process of getting a loan I don't advise that.

 

[frederick_9]

Self-financing your business gives you much more control than other finance options. It also means that you don't need to pay back or rely on outside investors ...

 

[tyrim88]

I share the same opinion with you. Getting loans from financial institution to start a business is risky. Starting a business is risky and you can't be sure if the business will go as you planned. If you want to borrow loan it should be to expand your already existing business.

That is just the fact,because a business that you have not been running and you have not known the terrian very well,it will be very difficult to do a forcast on how you will be able to pay back the debt.

 

[Ronald]

choosing the right finance when starting a business is very important to be successful in your plans.

Some people use their own personal savings to provide for their own business but this can be risky and may not be able to cover all the funding you need that's why the other category of people takes a loan to get going.

What's the ideal choice for you?

everyone talks about the loans in his country to expand our knowledge, please

Self-investment is the wiser choice in my opinion, but it is not constantly available as an option. Obtaining a loan simplifies and expedites
the process for the large majority of people seeking to establish their own business

 

[Yohanna]

Self-financing your business gives you much more control than other finance options. It also means that you don't need to pay back or rely on outside investors ...

You are absolutely correct with your assertion because self-financing your business is the best thing to do because you would not be faced with the problems of repayment or having to pay high interest.

 

[Georgeadawara1]

Yeah, I completely agree with that, self investment is far more better than taking loans to start up a business, for me I don't prefer to take loans to start up a business because that's very very risky to me.

I just realized that everyone has his or her own private opinion, but I think it will be better that one should just for for his private investment than to get a loan.

 

[Immilash1]

I just realized that everyone has his or her own private opinion, but I think it will be better that one should just for for his private investment than to get a loan.

That's just it, if you are ok with taking loans then that's a good idea, but for someone like me I don't want to start up a business with loans, that's not working out for me

 

[Smiles20]

If you are financially buoyant and you can start a business by yourself then this is exactly what everybody is going to do but not everyone can afford to start a business by themselves and there is nothing bad in going into a partnership.

 

[Ononivami1]

If you are financially buoyant and you can start a business by yourself then this is exactly what everybody is going to do but not everyone can afford to start a business by themselves and there is nothing bad in going into a partnership.

The best way to start up a business is to start by using your personal money.
Taking loans to start up a business is not advisable because making repayment will be very difficult.

 

[Ronald]

Very well. And with the way things are going, it is very unlikely that these financial institutions will reduce these interest rates soon. Business owners are going to be very much affected in the long run.

This is a very salient point. The interest on loans provided by many banks and financial institutions is exorbitant even now, and with the present global economic conditions, it will only go higher and higher. This will discourage more people from deciding to go for loans.

 

[Popular]

Though loan sometimes makes the process faster, the interest imposed on it is usually too large to cover. I'd like to use my savings to start up a business I'm not certain of its outcome.

 

[Ogbest]

choosing the right finance when starting a business is very important to be successful in your plans.

Some people use their own personal savings to provide for their own business but this can be risky and may not be able to cover all the funding you need that's why the other category of people takes a loan to get going.

What's the ideal choice for you?

everyone talks about the loans in his country to expand our knowledge, please

Some loans ate not actually desirable, I prefer establishing my business with my own personal savings. When a loan is taken, a huge interest rate may be applied

 

[Robust]

Actually if you are getting a loan to start any investment or businesses is very good if and only if you have a way of paying back such loan without it affecting your business or investment.

 

[Shigobad20201]

It depends on the business you wanted to start running , sometimes you might not have enough money to start the business because it requires a huge amount of money , then you have to resort to loan ,

 

[Laurentta]

In my opinion, self investment is always the best way to start a business. It's better to make use of your personal savings than to get loans from the bank or any other loan facility.