Starting small or getting a loan

[Chibson]

It depends on the kind of business you are venturing into. Actually I will take starting small because if you have the right mindset and idea and of course have made enough research before venturing into business you can grow a small business to a big one in the nearest future.

 

[Ub40]

I don't think there is any problems in starting small and grow. But in a situation where the capital you have is not enough to start the said business or company as the case maybe, then loan maybe the next option to consider. This just my opinion.

 

[Muhammad Babar126]

I think it's better to start a business with small investment is a good idea because if you start a new business with loan you have no security for your future that it will work or not and then you have to pay for the interest on it. Smart thing is to go with small investment on your own and then expanded with time to time so you don't have any other mortgage or interest or loan on your head to get rid of.

 

[Junaid]

Get a small business loan If you want to retain complete control of your business, but don't have enough funds to start, consider a small business loan. To increase your chances of securing a loan, you should have a business plan, expense sheet, and financial projections for the next five years.

 

[Muhammadawais]

Small companies typically pursue small business loans, but their requests are usually denied because it makes no financial sense for a bank to process a huge loan. Absence of collateral. Usually, most banks need collateral to give out a loan that serves as a promise of repayment of the loan.

 

[Fabulous]

For me starting small is more better than collecting loan from banks and other loan given institutions, cause if you should collect loan from banks or any other institutions they will as well as for there money and with a particular amount of interest, so why don't you start up that business with the little capital you have, and grow from there.

 

[Anymore]

Starting smallto is one thing or an approach to which one can actually a small scale busoness., it is only commendable if a businessanagervis trying to really scratch it off from scrachthe. But starting off big through affordable loanand, the way, the capital is increaseda and therefore, productivitythe rises, seeming favoutable for the businessday.

 

[Talibhussain074]

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 honestly give you feedback. That you should start a small business instead of taking a loan from the bank. I prefer to do business on a small scale instead of taking a loan from the bank or someone else for business itself. When you start a business, you don't know what can happen to the business. Suppose you lose business, then it will be very difficult for you to return the loan.

 

[Ezzyoj]

Starting small business is better than getting a loan to start up a business. The pressure that comes with the loan may likely put off balance. Starting small business will give you a better chance to get to learn more about your business, stay focused and keep progressing well in your business

 

[Atiqurrehman]

Get a small business loan Consider a small business loan if you want to maintain full ownership of your business, but don't have enough funds to start. For the next five years, you should have a business plan, cost report, and financial forecasts to maximize your chance of obtaining a loan.

 

[Kunkun]

Before you commit, find a way to quantify the possible change in income that could emerge out of extending your space. Could you cover your advance expenses and still make a benefit? Utilize an income conjecture alongside your current asset report to perceive what the move would mean for your main concern.

 

[Oluwasayofunmi]

Answering the question on Starting small or getting a loan, there is nothing bad in getting a loan from bank to start a business, but I prefer to start small with your own money, and invest your time on your business

 

[Aotosyno]

Its better to start small than starting with a loan.when you start small you grow your business little by little you are not bothered with returning any money at the end of the month with interest and you are rest that if it one naira you make its yours nobody is coming to take it away from you.

 

[Victor001]

This is a very sensitive topic, a bird in hand is better than nine in the bush, start with what you can afford, then accumulate and reiterate the progress of the business before planing for loan or makedo with your capital.

 

[Folaham]

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 in line with your opinion. I prefer to start small and grow the business as against taking up loan in banks.
Interest repayment on loan in most cases kill the business and most cases a loan run business does not always have a recovery plan

 

[Esther]

Well I would say start small but that depends on the kind of business the person wants to venture into if it's something that needs money and you don't have the amount and you are sure that the business will flow cause you have made all the necessary requirements then go ahead and borrow.

 

[Richard92]

Starting small is the best than getting a loan because when you start small you know that is your money and you don't need to pay any extra interest. But when you have ask for a loan return to pay interest at the end and then to be challenges for some business men when they cannot meet up repayment of the loan.

 

[Kelvin7656]

Most startup founders use their personal savings to fund their businesses, according to Forbes.

That said, don’t drain your bank account to raise funds for your business. Entrepreneurs should set aside enough living expenses (for for rent and groceries, for example) to last them for a year. This is because many startups aren’t profitable for months after opening.

 

[singlej007]

I am among the people that will advice to start small and grow big, because starting small will enable you gain experience, it will sharp you in the right firm, you will get to a stage you can withstand loan.

 

[Olubayo12]

Avoid getting a loan to start a business you have not done before. It is better to start small and work very hard to ensure that your business expands than getting a loan to start the business. No one assures you there is going to be profit

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?