Starting small or getting a loan

[Clara]

If you possess excellent managerial skills, you can turn your small business and grow it into a bigger business. It might take some time but it is definitely possible if you work towards 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.

 

[GIFTMICHAEL]

Starting small is the best option instead of getting loan. One good thing about business is that you can start with little you have now gradually you will start making profit. Loan can be a set back at this point since you already have some money.

 

[Jumoke12]

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 first option, starting small, is the best you could have done. Don't take loan to start a business you haven't done before, you do not know what lies ahead of you, even people who are very versed in the business can't try that because it is very risky to embark on such.

 

[Hammad1245]

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?

Yes you are right. Your idea is similar to mine. By getting loan a businessman becomes nervous. You have to return the loan with interest. If you suffer a loss and return the loan with interest, your whole business is deteriorated.

 

[Adetayo100]

As the same as you, I am likewise an enthusiast of beginning little. It pays to begin little as you would try not to be in pressing factor. Some of the time, the financing cost on those credits are incredible. They will in general get the entrepreneur from early benefits he would have made on the off chance that he hadn't gathered credit.

Little beginning does no harm to anyone, you can never be wrong instead of seeking huge loan to start a business why not start from where you see fit to start like starting very little. Nobody can fault a humble beginning.

 

[zahidhussain]

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

I'll say start small, because you need to have an experience of what you are doing, when you start a business you may not make profit at the first few month and if you start a business with loan, you might not be able to pay up the loan.

I think to start a small you might be to take loan from bank.But if you have a idea and have some money you can start their own small business like buying and selling products, manage a grocery shop and get a good experiences.Then after you start a buisness on large scale and get a good success

 

[Marissa]

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

 

[shakky2]

i prefer starting a business small to getting a loan to start a business as it is the case that i do not like a start up business with loan it is better to manage with the little capital you have and have a good business strategy which will help in boosting the. business than opting for loan

 

[Sad56]

In my opinion,Starting a small business is more secure rather than taking loan for new venture . because having experience in small business make us ready for big ventures.taking loan for business may suffer us in new troubles .and we are not sure if we get desire success after having loan

 

[Thosynho]

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?

Both are good however it depends on what you desire to achieve with time and space. Starting small without obtaining loans or borrowing is very good if the business is new to you but if have gotten enough experience and knowledge about the business you could start big by obtaining loan with reasonable interest rate.

 

[Sotherefore]

That is exactly what I have been saying that it is not the right thing for someone to start up a business with a loan because you can end up not being able to pay the loan maybe because the business is not booming as you expected or maybe there's a problem and one way or the other it will be very difficult to pay the loan.

 

[adeniji]

It is very good to start business with little money that we have. Borrowing money for business is a dept which must be pay back to the owner neither loss in the business or gain. If will start with the little that we have, will have rest of mind on it. If their is loss or gain, it will be under control.

 

[tuna89]

I will always encourage people to start small instead of getting a loan which may end up putting a burden on them, i saved money from my 8 to 4 job salary and was able to start small and grow the business bit by bit I believe with time one will be able to pump more cash into the business and grow it massively, loans may just put unnecessary burdens on the business owner.

 

[Heatman]

Both are good however it depends on what you desire to achieve with time and space. Starting small without obtaining loans or borrowing is very good if the business is new to you but if have gotten enough experience and knowledge about the business you could start big by obtaining loan with reasonable interest rate.

Well, personally getting a loan no matter the amount of money I'm looking for would always be my last resort after I have exhausted all other options available at my disposal and still failed to source the amount of money needed for my business. Loans always have a way of dragging you back.

 

[Neeta313]

Likewise, I don't intend to get any loan from the bank, if I decide to start a business, I would rather save money even if the business I want to start, I don't have enough money for it, I can always start small and build up the business to become big. I don't really fancy getting loans from the bank.

 

[Profwriter]

Starting small is the greatest way to begin a business and not taking loan from the bank, you certainly don't need to be under any pressure on how to repay loans from the bank as a new business owner, you may later take a loan to scale up your business

 

[Zubair]

It is not a bad thing to take a loan from a bank before starting any big business but it is also true that after taking a loan from a bank we always suffer from mental restlessness because it is always in our mind that we Has to repay the bank loan which is why we can't focus on our business in the way we should. So my advice is to start your own small business instead of taking a loan from a bank.

 

[Shigobad20201]

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 pressure of starting a business with a bank loans gives much headache to the point that you won't even concentrate on the business anymore, so i don't think its advisableso start a business with a bank loan , instead there are some cooperative societi9that borrows you money without any interest, all you need is to be paying some affordable amount monthly , so it's better to join those cooperatives than taking bank loan.

 

[Setho]

I am more of a $100 startup someone and do not like to go big in starting a business. My business models are ones I can start on the cheap and grow it with time so I never buy the idea of collecting a loan to start a business instead save till reaches my preffered amount

 

[Kelly5]

I am so very with you on this part of your decision to decide not to go to the banks or other financial institutions for the purpose of collecting loans. You should try as much as possible to save money of your own or seek help from friends and family members