Starting small or getting a loan

[Yaqoob Habib]

Am in support of what you have just said as your opinion but it matters allot when you don't have enough capital to set or actually start up a particular main business.
yes you have to give them a collartral that is more big and worthy enough even more than what you loaned.

You are absolutely right Because nowadays many banks are offering you to take a loan,Through this loan you can do business on them, they can know a happy life.I will tell you that if you do not have money, then you can start your business by taking a loan from the bank. So i prefer bank is a best choice to start a new business.I took a loan from the bank after which I am doing my business and today I am going in my happy life.

 

[btaliat]

Starting small is better to me. Borrowing or obtaining a loan to start a business is risky. The business may not soar in the first year which may affect the repayment of the loan. And even the growth of the business.

 

[Thosynho]

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.

I love your sense of reasoning man. It's always good if you do not have all the required money to start big to start small with your money. It gives you privilege to learn from the scratch and grow it.

 

[Softdave]

There is absolutely nothing with starting small in business starting small doesn’t mean you will remain or starting big doesn’t guarantee business growth it better you start small with peace of mind that starting big with a loan

 

[Zevin]

If you want to start something big and do not have your own money, a bank loan is the easiest option to raise capital. There is nothing to be afraid of a bank loan. Well, there is a risk of losing money when your business fails but why should you think about failing before your business has even materialized.

 

[Mikomataracy]

It is good to start small some times but still if one know how to manage business very well I prefer going for loan and use the money to execute good business that will be profitable.
If I get loan there are some good business in mind already that will yield good profit rather than starting small.
Starting small can only work for those that are just coming in to business not those that has been in the business before.

 

[Softdave]

Business doesn’t matter whether you start it big or small what matters is that the business is making progress it’s better to start small and not be in debt than to start big and be in debt that’s why I don’t encourage collecting loans

 

[tyrim88]

Business that are just starting would be advisable to start with the resourses avialable,because the actual terrain and what you will meet on grount is quit different from abstract analysis of the propose businessThat's why it's called a venture .And in most cases banks are not willing to give start ups loans without collateral,and also being a business that has not yet establish a viable method of earning income.

 

[chicnthin]

I prefer to start a small business rather than taking a loan to acquire a bigger business. Start up business will take a while before earning profits, so a loan would not be a smart move for me. The interest payments would eat my profits.
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I prefer to start a small business rather than taking a loan to acquire a bigger business. Start up business will take a while before earning profits, so a loan would not be a smart move for me. The interest payments would eat my profits.

 

[Softdave]

There’s nothing wrong in starting small so it’s better to start small and not be in debts than to start up a big business in loan what if things goes wrong how do you pay up the loan because something things are not always the way they seem so it better to start small with your own money

 

[Sotherefore]

I love your sense of reasoning man. It's always good if you do not have all the required money to start big to start small with your money. It gives you privilege to learn from the scratch and grow it.

This will put you in an unnecessary thinking and depression on how you can actually return the money you borrowed and may not allow to you to manage your business properly. Use your own money to start of the business.

 

[ahmedo24]

I've read many times that about 90% of all businesses never make it past their first 5 years. Why should one risk peace of mind and assets if you're not sure it will succeed.

It's better to use your money, no matter how small.

You're right it is never advisable for somebody to take loan to start a business that you are not really sure or you have no idea on there were people that tried it few years back they took loan to buy to hoard them and in the long-run the price dropped so they run at loss and they had to pay back the loan so it is very important to have a very deep knowledge about the business or you should have even start a business before taking a loan to expand it.

 

[Mawome]

Starting small is better, and strategic more than getting the loan at the onset, if start up your business with small money, let's say you you run the business for about two weeks or one month, with that you stand in a better position to know whether to continue or not, and also know when to pump in more money in the business.

 

[DareIsrael]

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?

It's really advisable to avoid getting loan from banks when starting a business. I have observed that bank are not concern with their profit and if things go smoothly, take your business. Moreover bank will always demand for collateral higher than the value of the loan

 

[Ziki]

I see no big deal in getting a loan and starting your business big. Once you have done the necessary business evaluation and you are sure you can handle the loan and may it off within the scheduled period of time. So yes I don't mind taking a loan.

 

[Felixko]

Getting a loan without knowing how the business is going to be is really a bad planning but quite well when you start a business in a big way you will be able to earn a lot of profit in the large business but starting with small business is good because you can earn profit but not as huge as you want and more to the point don't own with loan makes it unique.

 

[Sanusi]

I think an individual needs to start small first and look at the business tendency to grow more, but on that course if it does not have any kind of tendency to grow then an individual needs to be patient enough.

 

[DareIsrael]

I see no big deal in getting a loan and starting your business big. Once you have done the necessary business evaluation and you are sure you can handle the loan and may it off within the scheduled period of time. So yes I don't mind taking a loan.

Right? There no big deal at all in getting a loan. You just need to be prepared to pay the loan. Hence there is need for you to be committed to the business you are investing in at the moment.

 

[Shigobad20201]

In starting a business , i believe starting small is far more better than obtaining loans, I have been there and taking loans sometimes lead to depression cos you will be thinking on how to payback the loan, but if you start with what you have, you will be happy and very agile to work without thinkingon how to payback loan.

 

[DareIsrael]

Some look at taking a loan to start a business as something that is very hard to do but in reality, it's quite hard to get source for business both small and big except if you save up for it over time or you have someone to give you. Outside that, loan seems to be like the closest choice