Loans to start business

[Kingstone]

I am looking at taking a loan to start up a business in trading. I want to venture into crypto trading but I am not sure it is good to do so. I don't also recommend beginning a business on loans. Anything is bound to happen in the long run

 

[tusziget]

If you want a safest way to start a business you can do it via personal investment. When you start a business, you can use your own cash, with your savings. It may take years to save so much cash, but it is worth it, if your business will have success.

 

[Godspower]

Please never take loans especially from banks or financial institutions to start a business. This is because you might be in financial mess if the business does not succeed as planned and creditors come knocking.

 

[Kvngsammy]

Truth be told it's not quite good bro start any business with loan. You should not start a business with a loan because you don't know what it might result into at the long run
Loans should not be used to start a business no matter what

I don't think I quite agree with not taking a loan to start business - the only thing that's advisable to take a loan for is investment and a business that you're sure that is going to bring in income, you can take a loan provided you can manage it properly.

 

[eLdavis]

I don't think I quite agree with not taking a loan to start business - the only thing that's advisable to take a loan for is investment and a business that you're sure that is going to bring in income, you can take a loan provided you can manage it properly.

I think you ment the only thing not advisable to use loan for is going into investment. You have a point there but even when starting up a business you are very sure would give you profit, anything can still go wrong. Taking loan for a business startup is risky. In a situation where profit comes in later than the expected time, what would you do?

 

[Immilash1]

taking a loan to start up a business is not wise.its easy to take a loan but taking it back will be very difficult,at starting a business you need to have enough capital.if you don't have any source of capital it is advisable to take a loan from a friend or family members.

 

[joy101]

I don't really support the idea of taking loan for starting a business, I will like to encourage anyone that before going into business you must save money before starting a business.

 

[tusziget]

There are many pros to start up a business by taking a loan. You will have a lot of money to start your business, and make your dreams come true. Important thing is as well, that you can retain the business ownership (if you don't want to have a partner).

 

[Kubiat-Abasi]

Apart from loans, you can start a business with your personal savings, Grants, empowerment plus donations.

 

[Stnicholaz]

It is better to start small from your savings, seek for partnership or collect loan from family and friends. The last thing you want as a new start up is banks on your neck. As it would affect your input and productivity.

 

[kinqzbitz]

Well personally I think it is better to actually collect grants from the government than to actually collect loans from the bank to start a business when you know you can't actually pay back

 

[greenie]

The major way aside loan in getting capital for your business is by saving and through families and friends.
These are the group of people that can contribute capital for your business.

 

[Swazykid4all]

This is not advisable in any way or form, anyone that would venture into any business should start with a capital no matter how small it may be,it's better to start a business with your money than borrow to start.

 

[Kane]

If you are planning something big, if you have relevant skills and knowledge, if you have set up a team of professionals, I think you can get a bank loan to start a business. However, you need to have assets that will allow you to pay back if your business fails

 

[Joseph555]

A ton of business visionaries will begin with loved ones – you can find out if anybody is keen on either advancing you the cash, or contributing straightforwardly. As a rule, these arrangements are a lot looser and you won't need to pay extravagant interest expenses, etc.