GIFTMICHAEL
Captain Junkie
Ability to fail to meet up the repayment of the loan, is a daunting challenge to the business owner. It is very much advisable to start with savings than loan..
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That is the main reason why people avoid to take a loan to start a business. It is important to be sure that the business will make profits that will be able to repay the loan as at when due.Ability to fail to meet up the repayment of the loan, is a daunting challenge to the business owner. It is very much advisable to start with savings than loan..
The major challenges one face in starting a business with whom he is the cost of paying back the loan interest most times if the interest is much it is frustrating.starting a business with a loan is not advisable, cause it ties down the profit of a business, all the profit you get from selling will be used to pay back the loan, profits that is suppose to increase the business and also live on will now be directed back to paying loans, there's no way such business will grow, and the owner of the business self won't grow financially.
That's why people doesn't like it thstbway. Loan isn't a wise idea for a new business. One can get other alternative other than that to keep operations intact for long time.That is the main reason why people avoid to take a loan to start a business. It is important to be sure that the business will make profits that will be able to repay the loan as at when due.
One of my biggest challenge is to start my business with loan is the payback and the high interest that is normally involved when you took a loan.starting a business with a loan is not advisable, cause it ties down the profit of a business, all the profit you get from selling will be used to pay back the loan, profits that is suppose to increase the business and also live on will now be directed back to paying loans, there's no way such business will grow, and the owner of the business self won't grow financially.
The fear of failure in business is one reason that I would never advise anyone to take a loan from a bank because taking the loan from Bank would give you cold feet for you to make very logically sound decisions for your business because you are afraid that the business might collapse from that decision of yours that might likely make their business to be more successful.One of the major challenges of starting a business with loan is the fear you have. Try not to start a business with loan because you will have to return it with interest.
One of the major challenges of starting a business with loan is the fear you have. Try not to start a business with loan because you will have to return it with interest.
Sometimes people were forced to take a loan when they have exhausted all options in raising capital for their business and they are left with no other choice than to take a loan.That's why people doesn't like it thstbway. Loan isn't a wise idea for a new business. One can get other alternative other than that to keep operations intact for long time.
You can't say that situation force someone to take a loan, afterall loan is a optional thing. If someone wants their business to grow more, then it is important that they should take loan. But that is completely optional because if you don't want to take loan and carry on with your existing capital, you are welcome too.Sometimes people were forced to take a loan when they have exhausted all options in raising capital for their business and they are left with no other choice than to take a loan.
One of the major challenges to start business alone is that when paying back sometimes is the problem when the business is not yied more profitstarting a business with a loan is not advisable, cause it ties down the profit of a business, all the profit you get from selling will be used to pay back the loan, profits that is suppose to increase the business and also live on will now be directed back to paying loans, there's no way such business will grow, and the owner of the business self won't grow financially.
That so many challenges involved when you want to start a business with loan because most times people start business with loan without making much profit and to pay the interest rate will not be a problem.starting a business with a loan is not advisable, cause it ties down the profit of a business, all the profit you get from selling will be used to pay back the loan, profits that is suppose to increase the business and also live on will now be directed back to paying loans, there's no way such business will grow, and the owner of the business self won't grow financially.
I understand when needs press them hard the option of taking loans appears to them. That's why it is advised yo always have multi-plans before going into business. And not just starting up a business without making room for emergency savings for the future.Sometimes people were forced to take a loan when they have exhausted all options in raising capital for their business and they are left with no other choice than to take a loan.
People were forced to take a loan in the context meant, when they do not not have any other means of raising capital to fund their businesses, they will have no choice than to take a loan to finance the business.You can't say that situation force someone to take a loan, afterall loan is a optional thing. If someone wants their business to grow more, then it is important that they should take loan. But that is completely optional because if you don't want to take loan and carry on with your existing capital, you are welcome too.
Exactly I am against getting a loan to start up a new business, it is not the best thing to do , is too risky because you are not certain on the success of the business and what will happen if the business crashes.It took me time and discipline to gather my business capital to operate from the scratch. Taking loan during first time isn't the right thing to do, we can save from small until it reaches the target through discipline.
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