Is it advisable to set up a business with a Loan?

[Blessedsam60]

Yes you can start up your business with a loan but it's best advisable that your money there isn't less than 50% of the when money.
One cannot start a business with nothing

 

[Justin]

If you have a good idea, if you have a good team, if you have a good product, if you have done a lot of research, if the market is favorable, I think you can try to start a business with a loan

 

[eLdavis]

The answer to this question differs from one individual to another. Personally I see taking loan for a business startup as an unnecessary risk that can be avoided. So my answer is no.

 

[YERUS]

Is the idea of starting a business with a Loan from bank advisable??

If you have what it takes to bear all that comes with it, then there is no harm in trying.
Most business people get loans from banks because they have tried other avenues and help failed to come from no where else.
So, if you have tried other means, and they proved abortive, take a bank loan then and start your business.

 

[kayode10]

Looney is a two-edged sword so you need to be very careful with it. I can only advise you to use loan to start up a business you have knowledge and experience about.

 

[joy101]

Is not really advisable to start up a business with loan but is good to save money before planing to start up business, because I don't support idea of taking a loan.

 

[ganibade]

I will not advise you to start a business with a loan especially when you don't have any experience. I have a friend who is in a big trouble for setting up a business with a loan from the bank and he is not making sales due to inexperience in the business.

 

[Kingstone]

I wouldn't want to do this right now. Taking a loan to start a business when I don't have a good alternative Incase it fails. Always have a plan B if you take a loan for a business. This will cover for the impending losses that may come in

 

[Kaffyfolla]

Starting the business with the loan will depends on plan you have ahead. If the length of repayment of loan is extended, it is never bad idea to obtain it

 

[Lens]

It's not advisable to start business with loan most especially if it's a new business. You may not start making profit immediately, you would need to give it space of some months before the business starts making profit. The loan sharks will never give you that time before you start making repayment.

 

[kayode10]

You should only take a loan for the business you want to start if you have a wealth of experience concerning the business. It can be very hard to pay back loan for a new business start-up without any experience.

 

[Godspower]

It is advisable to get loans to start up a business if there are no other ways of raising capital. However, it might be wise to obtain loans from friends or family members who might understand if the business does not succeed as planned.

 

[Immilash]

Taking a loan to start up a business is not wise.you need to find another way to raise capital than taking a loan from a bank.it is easy to take loans but hard to take it back.

 

[ganibade]

Is not advisable to set up business with loan.to set up business with loan run down the business very fast.the condition on the loan make the business owner to loose concentration on the business.

 

[Sotherefore]

Hmmm,but if you are really very sure that you will be able to pay back the loan then you can go ahead to get the loan for any business , But note that some people along the way do not always able to pay back the loan

 

[Kaffyfolla]

I cant advice a novice to start business with loan but if you have been in the system, you can try such, how to return what borrowed is matter most

 

[Good-Person]

Paying back easily may be a problem, I do not advise people especially start ups to opt for loans when it comes to starting business to prevent you from using the profits to service the loan. It's better to save from your salary to enable you gather more capital, you can always start small too.

I have always believed that starting a business with loans has its own dark side. One of the main problem is the fact that you would need to increase the cost of products in order to earn more to pay off loans and this might drive the customer away.

 

[kinqzbitz]

Being that one is just going into the business for the first time and a lot of things has to be learned in order to stabilize the Business I don't think it is advisable to start a new business with a loan but then it has worked for some people

 

[Ezekiel]

Truely it isn't a nice ideal to use a loan to begin business,but it's makes alot of person to be on thier toes most person work estremely hard

 

[Grant]

You could start a business with a loan, but I don't know if I would advise it. If anything, you should have a set budget already funded if possible. Using loans can work, but I think building a budget first, makes sure you don't have to pay a ton back.