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Although it’s actually not advisable to get loan to start a business, what if the business is not successful but the only place you can raise capital for your business is by getting grant from governmentThese days when you talk to people about opening a business, they are always quick to tell you that it isn't advisable to start business with a loan. Where else will you get capital to start?
I agree with your point on loan. Taking a loan might not be the best choice for raising capital but it is not the worst. Sometimes when all other options to raise capital has failed, we will have no choice than to take up a loan from the bank or from friends and family.loans are good but not best
i prefer raise capital from my own personal pocket
The problem about angel investor is that, they might not come on time when you needed them to fund your business and when they do, their terms and conditions might be to much for you to accept.Angel investors. They are very few but they exist, they mainly help people that are finding it difficult to fund their ideas so they provide the funds sometime at no interest loan.
Laugh, why are you saying that it will not take much work to raise money for your business especially here in Nigeria in which 60% of the whole population are struggling to survive ? It might be difficult if you're starting a reasonable business or company.I think the best source of capital for a business is self funding. It does not take much of a husstle to take your own money for business. Moreover, you won't owe anyone anything. This self fund could be from your savings, your income or selling something that belongs to you.
The truth is that it is very difficult to get business grants from government or be able to get big amount of money from family and friends for used to start up a business so the most easiest way for most people to get business funds is actually by obtaining loans from Bank.Yes it's not advicable to start a business with loans, because loan repayment can wreck a business with it's interest rate. You can get capital from personal savings, money from family and friends or you apply for Grant from government
I agree with you, this is actually the most reliable method of getting funds for business that I know and I never think loans are good.To me I feel the best source of capital for one's business is the money the person must have saved over time and interns doing business with it
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