Is it advisable to start a business with a loan?

[Kennysplash]

If you are starting a new business it is like a gamble. You don’t know whether it will work out well or not. So starting it with borrowed money is a risk, because if the business performs below expectation you wont know how to repay the loan. There are ways you can source for funds like from your family and friends or from governmental organizations. But using a loan is just not advisable.

 

[joy101]

I think it depend on an individuals, personal I think it is possible,if a person do not have capital at hand to start up a business, but have a good business structure ,he can take a loan an start,and pay gradually, depending whether it is a short or long time loan.

 

[Laurentta]

I do not think it is advisable to start a business with a loan. I also feel there are other ways to source for business like from one's personal savings or friends and family members like you said.

 

[Mayorla]

It is not advisable to take a loan to start a business except it is a soft loan and have easy repayment option.
Starting a business is risky and anything could go wrong, And It would be more devastating if you start a business with a loan and it eventually fails.

 

[Jonaville1]

It is not advisable to take a loan to start a business except it is a soft loan and have easy repayment option.
Starting a business is risky and anything could go wrong, And It would be more devastating if you start a business with a loan and it eventually fails.

This is what I have always told people
It is a very bad idea to start up a business with a loan. If is better to even beg for money from your family and friends instead of you to start with a loan.

 

[Kane]

Do you have a plan B? I mean do you have any plans on loan repayment if your business does not become successful. If you can still pay the loan even when the business fails, you are good to get a loan.

 

[Mayorla]

This is what I have always told people
It is a very bad idea to start up a business with a loan. If is better to even beg for money from your family and friends instead of you to start with a loan.

Yes that is true.
Most time, Things does not work according to our plan. A lot of things could go wrong. It is very much Better to save for it yourself and worst case, You can beg from Family and Friends.

 

[Syldan]

Personally to an extent, I think it's not advisable to start a business with loan even though we always hoped to achieved success but it's uncertain and you don't really know if the business will be successful.

 

[Chibson]

Personally to an extent, I think it's not advisable to start a business with loan even though we always hoped to achieved success but it's uncertain and you don't really know if the business will be successful.

there are many businesses that have started with loans and they became very successful. If you are not optimistic and knowledgeable about a particular business you shouldn't to start it with the loan. But if you are very much knowledgeable it is advisable.

 

[Planbizzle]

You may be able to receive the funding you need to launch your business by taking out a loan. Keep in mind, too, that any borrowed money will need to be paid back with interest, adding another financial stress., to be quite honest

 

[Shigobad20201]

Some people started their business with a loan and they are running the business perfectly because they have a good plan for the business before going for the loan but i don't really like starting my own business with a loan .

 

[Abasiama40]

No, it is not to start a business with a loan.The problem with starting a business with a loan is that you are already starting with the back-foot. Quite often when people try to take out a loan to start a business, it's because they are unaware of how difficult it is to grow a business. Building a business business requires hard work and consistency. Starting off with a loan bypasses all of the valuable lessons you need as an entrepreneur to build a long-term successful businesses.

 

[Robert90]

It is wise to take out a loan to launch a business. You can use personal loans to pay for the costs of launching a small business. The majority of business needs, including long-term fixed assets and operating capital, can be funded by small business loans.

 

[Syldan]

Actually sometimes it's not a bad idea to run a business with loan but to some extent, it's very risky to start a new business with loan most especially if the business couldn't make it well.

 

[Emmy]

Sometimes there are business ideas that come up at a particular time that can fetch you good income. Therefore I will advise you to take loan to accomplish your business ideas so that the period will not pass by.

 

[Ernestnari]

I can only start a business with a loan of the period of repayment is extended to 6 months after disbursement. This is to allow the business to take root and sprout before the pressure of loan repayment.

 

[Danny4cash]

Do you have a plan B? I mean do you have any plans on loan repayment if your business does not become successful. If you can still pay the loan even when the business fails, you are good to get a loan.

I love this your point. Anyone that want to take a loan to start a business should have a plan b incase the business fail. In business, no matter how good you're, you can't have 100 percent chance of succeed in the business you want to start. The business may or may not succeed. So, if it fails, do you have plan B to repay the loan.

 

[Kane]

A lot of people get a loan in a hope that they will use loan money to make additional income and then pay back their loan. What they do not consider is what happens when they cannot earn.

 

[eLdavis]

I do not think i would really advice anyone to start a business with loan though. Starting a business is risky, there is no guarantee that it would go the way you want it to or if you would get profit back in time before your loan reaches its deadline.

 

[Trey]

It is never a good thing to start a business with a loan. When you plan to start up a business, you must be aware that that business might fail in the end. Being aware if this will help you fight to either prevent it or find a way to get back on your feet when it happens. You can only get a loan to support your business when the business has stood the test of time and you're ready for expansion.