Starting small or getting a loan

[Thinker009]

It actually depends on the Choice you are willing to make ,I guess most actually do start small and at the end get the required benefits ,with a good management of the business ,if you started either small or big you would get the advantage

 

[eLdavis]

It actually depends on the Choice you are willing to make ,I guess most actually do start small and at the end get the required benefits ,with a good management of the business ,if you started either small or big you would get the advantage

What about in a situation where you are given a loan with little to no interest on top, the only condition is that you pay back within a specific amount of time, would you take it or still decide to start small?

 

[ahmedo24]

What about in a situation where you are given a loan with little to no interest on top, the only condition is that you pay back within a specific amount of time, would you take it or still decide to start small?

in that case if you have a good business that you are very optimistic of making gains almost immediately you can take up the loan and invest 70% of it into the business keep 30% as caution or emergency funds

 

[tyrim88]

i would say start small, you will learn a lot in your journey to increase the size of your business and you will gain experience, loans are risky and comes with interests to pay later which makes you spend more money

One of the benefits of starting small in an enterprise is that it will help the owner of the outfit to properlly know and understand the intrigues of the business and to understand how the dynamics of the cash flow really works.

 

[Skysaint]

There is absolutely no harm in starting small and even if there was I think it's nothing compared to the risk of taking loans for business startup. We should start small, give our all to it and consequently make it grow

 

[kinqzbitz]

Well I prefer starting small then growing the business gradually than getting a loan from the bank because it's not a good thing to owe and the punishment is always great if you fail to pay

 

[YERUS]

I would never start any business with loans from bank, This is my personal opinion, because I have seen how many Banks treat their debtors, most people that start a business with loan don't usually have peace of mind and the collateral they give in exchange is also big
What did you see to this?

I had made up my mind from the very beginning that i was not going to obtain loans for my business start up.
Even though i delayed starting my business due to financial constraints, i felt more comfortable when i finally set the business without loans

 

[Godspower]

I had made up my mind from the very beginning that i was not going to obtain loans for my business start up.
Even though i delayed starting my business due to financial constraints, i felt more comfortable when i finally set the business without loans

You made a very good and bold decision. I can imagine the feeling of not having to make payments (sometimes with interests) to financial institutions who may embarrass you anytime you default.

 

[greenie]

Getting a load to start a business is sometimes risky what if the business did not yield has expected then one will b ib debt ..so my opinion if you can get a loan to boost existing business or rather you start with small capital

 

[Smiles20]

If your business is one that will allow you to start with a small amount of money or equipment then you should go for it. You can think about expanding the business little more afterwards.

 

[Laurentta]

I agree with you, i would rather start my business small than to take a loan. Most people who take loans to start up a business do not have peace of mind. They are always thinking about the loan they took.

 

[Kvngsammy]

In a way though considering the fact that business processes wouldn't be that easy considering the pressure that'll come with it.
Though I'll want to take a loan to finance my internet business if I had the chance.

 

[Heatman]

I would never start any business with loans from bank, This is my personal opinion, because I have seen how many Banks treat their debtors, most people that start a business with loan don't usually have peace of mind and the collateral they give in exchange is also big
What did you see to this?

I am more comfortable starting in a very small way in my new business and grow the business with my efforts to the level I wanted to be done getting a bank loan and put extra stress for myself.

 

[Shigobad20201]

In my own dictionary , i prefer starting from the scratch , starting with the little i have and if not enough , get help from friends and family but starting a business with a loan is not advisable.

 

[mayumi97]

It's always better to use our own funds to start a business. Using our own funds enables us to focus on the more important aspects of business instead of worrying about debt servicing or payment. Borrowing money carries a lot of risks for a start-up business because there is no assurance that it will take off as expected. Thus, it would be better to start small. One may also consider partnering with another individual to start a business that requires bigger capital.​

 

[Heatman]

I agree with you, the pressure inflicted on business men/ women when it comes to loan repayment is unbearable, it's just that sometimes these people do not have a choice as there is no one to loan them money to start their businesses.

As far as I'm concerned is always better for you to start out your business in any little way that you can instead of getting a loan to start the business and put added pressure on yourself which will also close the business down when you can't pay back the loan.

 

[jay]

I would never start any business with loans from bank, This is my personal opinion, because I have seen how many Banks treat their debtors, most people that start a business with loan don't usually have peace of mind and the collateral they give in exchange is also big
What did you see to this?

The real problem is not actually getting loan to start your business but truly been able to pay back in the loan when you are supposed to pay it which has been the biggest challenge for everybody that have got loan to start business.

 

[Sotherefore]

You have an external source of paying back the loan without it affecting your business then you can go ahead and establish a business with a loan but for me personally I do not like.

 

[richee84]

Starting up a business without for of loan is the best best thing to do, business at the initial stage usually face a lots of challenges and if the business is not well manage it could lead to it collapse. Starting a business with a loan involved more higher risk than starting up a business without a loan cause when the business collapse the burden of paying back the loan will be another challenge. Loan is best use in business for expansion, when a business has grown pass the initial stage it well need more capital to expand it business so that it can compete favourable well in the market and to also increase it market share structure. Once the business has face and overcome all the initial challenges at it early stage, the burden of paying back a loan will not be a difficult thing to achieve.

 

[Setho]

If you have reasons to believe that your business can be able to move forward if you start small then I think that is the best idea for you to do. If you think that you are not going to get the necessary equipment then there is no shame in taking up a loan.