Alternative against taking business loan

[Thinker009]

In our country, government provide some subsidy in interest amount of loan. Get subsidy can be availed only on home loans and welfare loans. I don't think there are any scheme which provide subsidy for loans for any business. You have to pay full amount of interest.

Some scheme provides that , because at times the government usually conduct programme to help small and medium scale enterprises grow , so it's another medium of grant by the government and help subsidize interest rate

 

[Razor1911]

Some scheme provides that , because at times the government usually conduct programme to help small and medium scale enterprises grow , so it's another medium of grant by the government and help subsidize interest rate

So in this pandemic situation, I think government should provide subsidy for all kind of business. After all such businesses are most adversely affected in the lockdown. If they will recover quickly, then only the economy can sustain.

 

[Thinker009]

So in this pandemic situation, I think government should provide subsidy for all kind of business. After all such businesses are most adversely affected in the lockdown. If they will recover quickly, then only the economy can sustain.

The problem is that most government doesn't care for it's citizen , and during the pandemic , some government couldn't even give their citizen covid palliative which is too bad

 

[Bousine123]

If you do not want to take a loan to start your business, you need to sell you 50 percent ownership to another person and use that money to fund your business. This is the best option

Really good idea op. But what about if your business is not one that people will love to invest in. And also how sure are you that your business can be able to pay that investor.

 

[Billy]

If you are keen to start a business but have no starting capital, then there are some alternative options rather than taking out a business loan.
Firstly, have you considered starting off with a business that doesn’t require much capital that you could perhaps self fund? This will allow you to earn some money and then invest your earnings into the larger idea. Always my preferred option!
Secondly, think about taking on a business partner. There will be people out there who want to partner into a business but don’t have experience in business, but do have capital. Discuss an equal partnership. You can often find these people on message boards and forums. They will probably even bring their own set of skills to the table!
Lastly, if you are adamant on taking out a business loan, then consider purchasing an established business.
There are many sites where people list established businesses for sale, and if you can find one in the area you’re looking to work in, then this may be an option for you, because with an established business, you will be able to ask for accounts and be sure that the loan repayments would be covered before taking out the loan.

Sure. You are right and i like your thinking. But on the point of buying an established business, you also need capital to buy an established business. This will bring you back to seeking credit because not many people will have enough money stashed away for that.

 

[Ella1003]

If you are keen to start a business but have no starting capital, then there are some alternative options rather than taking out a business loan.
Firstly, have you considered starting off with a business that doesn’t require much capital that you could perhaps self fund? This will allow you to earn some money and then invest your earnings into the larger idea. Always my preferred option!
Secondly, think about taking on a business partner. There will be people out there who want to partner into a business but don’t have experience in business, but do have capital. Discuss an equal partnership. You can often find these people on message boards and forums. They will probably even bring their own set of skills to the table!
Lastly, if you are adamant on taking out a business loan, then consider purchasing an established business.
There are many sites where people list established businesses for sale, and if you can find one in the area you’re looking to work in, then this may be an option for you, because with an established business, you will be able to ask for accounts and be sure that the loan repayments would be covered before taking out the loan.

Helpful post i must say, but we also have to realize that there are still people out there who dont have access to partners or investors or even money at all to start up small, so as much as taking loans needs to be avoided, you can still fall back to it if you have a good plan mapped out and the means to execute it

 

[Kubiat-Abasi]

The alternative is to save up capital or run a partnership with other people. Taking a loan is not frowned at to be honest. It makes easier way and makes the loan taker serious and committed.

 

[Senator]

The ulternatives against taking business loans are many. You can opt for using your personal savings for this or business when you must have accumulated enough to start the business

 

[Dagm1]

Certainly there certainly are actually options if you understand ways to place your onions in the appropriate meals for a meals flavors. Depending upon the type of company you wish to perform, it will certainly identify the funding you desire to obtain notify of lending. You can easily offer your concept to individuals that can easily purchase that company as well as you will certainly provide certainly there certainly compensation rather than taking lending, you allow somebody purchase into to business, bur thoughts you trip company should be actually practical as well as appealing.

 

[Ceeny007]

I wouldn't advice a brand new business to take a loan to off start a business the consequences far outweigh the benefits especially when the grace period is really short

 

[Heatman]

The natural business that you want to start is what goes a very long way in determining with that you are supposed to take a bank loan to finance it because if you can be able to pay back your loan it's very useless starting such business.

 

[Miraclesam]

Taking business loan is very risky and demanding. In my opinion a researcher needs no loan to boost the train. If you are aiming at manufacturing let's say gas, and you research for soap or some other things that is required by the market to start first with what you have and then use the outcome to fire product processes.

 

[skyliequiz]

Invoice factoring is a notion that may be quite useful for small businesses in terms of obtaining consistent cash flow. No papers are necessary for invoice factoring, and the procedure of receiving cash is quick.

 

[Ezekiel]

Sincerely there is an alternative, if one start a business small he or she doesn't need to get a loan,he could keep saving and improving his business

 

[Setho]

If you do not want to start a business with loan then you can ask your family or your friends for a donation or you can contact cooperatives and angels for grants.

 

[eLdavis]

Sincerely there is an alternative, if one start a business small he or she doesn't need to get a loan,he could keep saving and improving his business

This is the simple truth, but these days everybody wants to start big because they simply do not have the patience to wait and grow the business. Hence they go into loans. The major issue is the patience that most do not have

 

[JoeTom]

I'll always say getting a job is not bad but above all own a business. Now if you should have a job, saving from that job can save as an alternative for the loan. Besids, getting other side jobs, minimizing your expenses and saving from there can save as an alternative.

 

[Ghost]

Apply for government grants borrow from a friend who you know wouldn't request for interest. The idea of interests make me hates loans. Better still, sell ur asset

 

[Jhayms07]

Well I think a better alternative is seeking for a business partner. That way you guys would come to an agreement and and it would make it easier and less the pressure

 

[Senator]

You really make some sense here that people can startup a little business first even if the business is not the intended tqrget business fornthe moment because of the volume of capital needed. You can grow that small business to help you acquire that dream business

Post automatically merged: Sep 29, 2021

As much as is possible within you, I advise that you do not think of loan as an option to get Capital for your business. Stay away from doing so. Get all the help you need form your friends if possible