Starting small or getting a loan

[Irfanali]

If the loan is easy, it can make bad decisions easier, and you will have to repay it sooner or later. ... Getting a loan to start a real estate business is really a bad idea. Getting a credit card to start a franchise location is a good idea.

 

[Joseph555]

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?

This is a very disturbing and stressful way of starting a business because you may not like the outcome
It is always advisable to start your business with your capital either from friends, love ones or friends.
Because loan will stress you more than you could have expected.

 

[Shayo]

Getting a loan to start a business isn't bad if you have a solid business plan and you're sure you'd be able to pay back. Although, it is always better to start small with the little you have especially newbies, see how things goes first before you make any loan decision.

 

[redpogi16]

If you start a business from a small scale business you will have more experience about by the time it will grow you will have expert on it.They will in general get the entrepreneur from early benefits he would have made on the off chance that he hadn't gathered credit.

 

[Adexgrace]

Taking of loan for startof business might not be encouraging but if well managed it can make the business grow rapidly and also reduce stress of looking or seeking for money for the start of the business

 

[Aniwhyte]

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?

You're absolutely right about this, starting a business with a loan is one of the worst thing I have seen so far. As for me I would never start a business with a loan no matter how desperate I am in actually starting up my business. I won't even advise anyone close to me to take a loan just to start up a business.
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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?

You're absolutely right about this, starting a business with a loan is one of the worst thing I have seen so far. As for me I would never start a business with a loan no matter how desperate I am in actually starting up my business. I won't even advise anyone close to me to take a loan just to start up a business.

 

[Caali]

Never take a loan for any business or small business because business means there is a risk always so if the money is yours and the business went down then the lost money is lost and you can stop. But if you took loan and your business went down then how are you going to pay up your loan amount..

 

[Draysongz]

Starting small is better than taking loans from banks or any money lender. That way you'll have rest of mind, even if the business isn't doing too good, however if you take a loan to start your business and things go wrong along the way, you might later regret

 

[abubakar3141]

One of the biggest challenges startups start up with is the inability to qualify for funds because their company has no business - or bad credit - and no cash flow. Because many new businesses may not be eligible for small business start-up loans on their own, owners often rely on their personal reputation to raise funds.

 

[maventiger]

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?

@Fatima starting a business is good thing but starting with bank loan is a wrong move. Business is a risk with probability of failing or being successful. Even with a fully proofed business plan and good work ethics in your path it can still fail by external factors. One of such is government policies, something you can't predict or see coming.

 

[Nurudeen]

Starting a business with whatever one has is the best advice I can give anyone hoping to start a business. Getting loan to setup a business can be very disastrous In the long run as this can cause a lot of problem in the business

 

[Abdul Naveed]

One of the biggest challenges startups start up with is the inability to qualify for funds because their company has no business - or bad credit - and no cash flow. Because many new businesses may not be eligible for loans to start a small business on their own, owners often rely on their personal convenience to raise funds.

 

[Oluwole]

Starting small or take loan? We have different type of business not every business one can start small, it depends on what type of business one wants to invest into. Starting small without loan is good but not all.

 

[Asad Ali]

I think it isn't nice to start a business with a bond that I'll prefer to start a company with a small amount of money I have, so when you go to a bank to raise loans to start a business there will be a lot of pressure on the business owner, pressure to repay the bond and how to satisfy the client's needs.

 

[mubinadaddy]

I agree with your opinion. It's a very bad ideas for your to start a newly business with a loan. It will be of good aspect starting the business small and grow it bigger than go for a loan. The repayment plan wouldn't be an easy task for you cause you just started the business.

 

[manikk786]

If a person wants to start a business but has less money to invest in the business, he should never take a loan from a bank, borrow from anyone, but never take a loan because he gets it at interest and the money If I add interest, there is no blessing in it and I have to get the wrath of Allah. Do a little halal, this is my opinion.

 

[Anas Chaudhary]

Extra Tips to Take Care of
Start small.
Diversify your portfolio.
Invest in Blue Chip Stocks (for beginners)
Never invest in 'free' tips / advice.
Avoid closing the sheep's eyes.
Invest in what you know and understand.
Learn what to expect from the market.
Be disciplined and follow your plan / strategy.

 

[Highflyer]

Starting a business small is preferable to getting a loan, I don't advise getting a loan to start business. The business may not turn out as expected and you will still have to pay your debt. Starting with the little you have is better.

 

[Heatman]

Both of them are important even though with different advantage and disadvantage. Starting small can take you longer time to get ground but with peace of mind while getting loan can make you get ground within a short period of but you must be paying interest of what you are given.

Seriously the only good advantage of getting a loan is that the money to use for whatever purpose you have it for will be available. Any other thing apart from this, the loan comes with a lot of stress and ache.

 

[Husnainali]

If the loan is easy, it can make bad decisions easier, and you will have to repay it sooner or later. ... Getting a loan to start a real estate business is really a bad idea. It is a good idea to get a loan to start a franchise location