Would you borrow to begin a new start up?

[Ja sa bong]

If you have a very good business plan for a new small start up, would you be willing to borrow money or loan from any financial institution to start the project?

What kind of interest rate are you expecting to be encouraging for you to pay on such loan?

 

[Ravenfreak]

I would definitely use a business loan if I had a business already planed and thought out well. Saving up money for a business to really thrive can take time, and in that time that you're saving up money you could be losing out on potential customers. After all, if there's a business with the same practices or goods you are wanting to offer that shows up in your area before you're able to get the ball rolling, you're going to have a harder time getting things up and running with competition already out there.

 

[Shortie]

If I had a good business plan and I was sure that it would be successful and it was worth taking out a business loan to be able to start up then I would for sure take out a business loan to start up a new business. It wouldn't be a decision I took lightly though until I had looked into everything before taking out the loan.

 

[The Raven]

It's a tricky thing but if I really have everything worked out I am sure I would take a bank loan. If business goes well, it will pay off fast and life will be much better. But the thing is, there is no guarante for succsess in any business even it sounds perfect on paper.

 

[BusinessGuru]

I have no problem in borrowing. Borrowing to start a new startup can provide essential capital for initial investment, operations, and growth. However, it also involves risks such as debt obligations, interest payments, and potential loss of assets. Entrepreneurs must carefully evaluate their ability to repay loans, consider alternative funding options, and develop a solid business plan to maximize the chances of success and minimize financial risks associated with borrowing.

 

[Maria2]

Borrowing to start a business provides immediate capital for growth and investment. However, it also means taking on debt, which requires repayment with interest, adding financial pressure. While it can accelerate business growth, excessive borrowing can lead to financial strain and potential bankruptcy if not managed carefully.