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[AudraMiller]

When you start a business one of the most important thing is the funds that are required for that business as that essentially is the determining factor in taking that business idea and putting it into reality. There are various ways that people use to start a business. Some tend to take out loans, others take out a fund raiser and some save up and only start a business when they have funds. Do you think it is advisable to take out a loan to start a business considering the risk that is involved and the chances of businesses not working out?

 

[Niftyicon]

i would not advise someone to start up a business with loans because that could end up into having to pay debts even before the business has found its footing. I would prefer saving up or bringing on investors like partners.

 

[AudraMiller]

i would not advise someone to start up a business with loans because that could end up into having to pay debts even before the business has found its footing. I would prefer saving up or bringing on investors like partners.

Investors are much better because they are able to have a hand in the business as well and could provide you with valuable knowledge as well. For some people they actually prefer the loan option as it provides them with that determination knowing that they have payments due on certain dates.

 

[Niftyicon]

Investors are much better because they are able to have a hand in the business as well and could provide you with valuable knowledge as well. For some people they actually prefer the loan option as it provides them with that determination knowing that they have payments due on certain dates.

I guess it is each person with his/her own ideologies. A person who can guarantee the success of his business could consider loans but I would most likely not do such.

 

[infinitytech]

Start to apply for low interest loans from banks, as any other entity will likely take advantage of you, so banks are the safest for credit!

 

[AudraMiller]

Start to apply for low interest loans from banks, as any other entity will likely take advantage of you, so banks are the safest for credit!

Definitely. I was looking recently at the interest rates when you buy certain items on credit, and the items are much as 50% more in price when bought on credit. So teh bank is the most reputable to get a loan from with a decent interest rate manageable for the business.

 

[AudraMiller]

I guess it is each person with his/her own ideologies. A person who can guarantee the success of his business could consider loans but I would most likely not do such.

I agree with you. I don't think anyone can ever guarantee success though. I feel that when it comes to a business there are so many external factors that you are not able to plan for and so t can be quite difficult to be so sure of any venture.

 

[infinitytech]

I agree with you. I don't think anyone can ever guarantee success though. I feel that when it comes to a business there are so many external factors that you are not able to plan for and so t can be quite difficult to be so sure of any venture.

That's right, any business requires a great hard work to build and yet the success of it is not guaranteed. But work hard, as far as there is hope.

 

[Ridorz]

As for my own view and perspective, it's not a good idea to get loan in which to startup a business as a business beginner. Because it's very dangerous to do so.

 

[Emmanuel24]

I don't think it's advisable to go for a loan in bank because of the interest. I think loan can be got from friend of which there won't be interest on it. You know! Sometimes interest on loan may equal to the anticipated profit.

 

[microunit]

I don't think it's advisable to go for a loan in bank because of the interest. I think loan can be got from friend of which there won't be interest on it. You know! Sometimes interest on loan may equal to the anticipated profit.

It really depends on the situation of the person, depending on the bank some loans have decent interest, also there are times that a friend can't lend you money right away

 

[a_jerobon]

The best ways to source business capital does not involve taking loans. I think it is better if you find sources such as your own savings, selling something of your own or partnering with someone and contributing the capital.

 

[Ridorz]

The best ways to source business capital does not involve taking loans. I think it is better if you find sources such as your own savings, selling something of your own or partnering with someone and contributing the capital.

Yes, you made a point. Contribution of money can also help one to startup a business or one can get a money from relative. But the terms of getting loan is not advisable.

 

[kaycee001]

Different ways to fund your business
1 Taking loans but it should be with little interest and shouldn't put pressure on you
2 Fundraising either from your community church or friends
3 Families can also be of assistance
4 Sourcing for a financier that is he or she put money in your business while you pay back from the profits generated from the business

 

[Godspower2]

Taking a loan from a bank is a high risk you've got to have a collateral just in case the business doesn't pull through. But if you know yourself, you know your strength, you've done your research and you are sure that the business will bloom then it is worth the risk. If you have a sponsor though, it would be much easier.

 

[Kennysplash]

Unless one is 100 percent sure of what he is venturing into, I won't advise anyone to take out loans to start a business. What is being done at the start can be referred to as test running. Then what happiest when things go south?

 

[LutherKing]

Well loan is usually worst thing to do in my opinion and exactly when starting a business its better to not kidding me , you've got to start with own funds , this shows how much trust yii have in yourself

 

[Ridorz]

Different ways to fund your business
1 Taking loans but it should be with little interest and shouldn't put pressure on you
2 Fundraising either from your community church or friends
3 Families can also be of assistance
4 Sourcing for a financier that is he or she put money in your business while you pay back from the profits generated from the business

You are right of saying the way of getting fund to start up a business. But it's not advisable to get loan for Start a business, it's very big risk no a little.

 

[Ofonime]

I never into loans. Loans is a pressure thing for my mind & it causes tension for me, it's my personal view. So, I prefer to save up some money to start a business.

loans is also good with loan you can start a business and be making alot of money if you manage it well but for now I think that if you have a job and want to start a business then start with that your salary is also profitable

 

[Ridorz]

loans is also good with loan you can start a business and be making alot of money if you manage it well but for now I think that if you have a job and want to start a business then start with that your salary is also profitable

Getting loan to start a new business is not advisable unless if you get loan to boost the existing business. Because, you have to think of it that it's not the immediately you start a business you will be gaining a good profit that can pay back the loan but if you have a another source of income that you can be using to pay the loan, then you can go for loan to start a new business.