Even though I do not have a huge amount of capital to start any business, I believe that I can still save more money and invest in some sort of business. I would avoid taking loans at all cost.
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I can remember working for more than two years to be able to make up savings which I needed to start my business.I raised the capital for my business through personal savings.
My parents assisted me with 30% of the money i needed.
I think it took me more than a year to raise that capital.
Even businesses that aren't built on loans fail everyday. I can't recall where I read that three out of five startups fail and that the odds of starting a new and successful business isn't really promising.Yeah. I've also observed this. Most businesses built on loans tends to fall quite early. Maybe the factor of too much interest is the cause
I worked for almost two years or more trying to generate a capital for my business and when i started the business , the money was not enough so i got a soft loan from a friend.I was able to raise capital for my business by taking a soft loan from a friend and it was really helpful as at the time I needed it.
And so how is the business now ? I hope you have been able to return back the money you have collected because that is the most important thing, were you engaging in online business or offline business ?I worked for almost two years or more trying to generate a capital for my business and when i started the business , the money was not enough so i got a soft loan from a friend.
I always believe that it's very important that you save up your personal capital to start up your business because it is going to afford you to best piece of mind in running your business on daily basis.I was able to raise the expected capital to start up my business from my personal savings accounts for that project. From a small number of friends and family members who were very willing to offer an assist.