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

[Hrtbeat]

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

 

[Tislad]

Hmm getting capital to start up a business us quite frustrating in the part of the world but still won't advise anyone to start up a business with a loan.

 

[Kubiat-Abasi]

To my end, it is not advisable but it could be a trigger in boosting quality performance, innovation, perseverance and dedication towards the business.

 

[tyrim88]

One thing i would not advice any entrepenuer whao is just starting a new business is to go and get a loan from the bank,this is because a business you have not run before,the terrian is still very new,and profitability is still uncertain,why begin with a loan.

 

[Essy]

Getting a loan might be the only realistic way to start a business seeing the high start up for business and limited funds to get the required amount.

 

[Stnicholaz]

In my country Nigeria getting alone from banks to start a business can be very frustrating and no go area if you don't worthy guarantors or collateral. So it is not advisable to get a loan from the bank. trying to pay back the loan will affect the smooth running of the business.

 

[Seno inyang]

I don't think it's advisable to take a loan for a capital to start a business. Source for any other means of getting your capital but notwithstanding, getting a loan for a business capital will make you restless thereby making sure your business is profitable in order to get the loan paid back in due time.

 

[CeeJase]

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

If you are very sure about your business being able to make profit before the due time to pay back the loan, it's not a bad idea to get such loans from either banks or individuals.

 

[Stylex]

I don't really think that's s great idea ,it might sounds great but it's not meant to be ,you will find it very easy to take a loan but at the end of day you will find it very difficult to take it back , that's what happens when a business us set on the foundation of loan

 

[Ub40]

To me, it is not something really good to start a business with a loan, but if all sources like family and friends, relatives, and personal finance has failed, I don't think there is any other option than to take a loan. So, some of these taking of loan for business is just not deliberate as something warranted it just as I already explained above. It is just my opinion though.

 

[Toyoabasi]

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

Yes, if that is to be your last resort.
First try other alternatives, ask for contributions from friends and relatives, apply to government grants, use personal savings.

 

[JoeTom]

If you have the passion for a particular business to be established and the only option for the business capital is loan, it's cool.

 

[Mfoniso Nyah]

I don't think it's a good idea to get a loan and start a business. Personally, you don't know if the business you're starting will be successful, and if it's not you'll be looking for money to repay the loan.

 

[skyliequiz]

Borrowing money to establish a business is also a viable alternative for retaining firm ownership. A start-up business loan may be the ideal option to finding investors, who may ask for a stake in the firm in the coming years.

 

[Tislad]

I wouldn't advice anyone to start up a business with a loan because the joy of a business is getting your money and making gain not working and giving your profit to people you owe

 

[Ghost]

For the thousand time getting loans to set up a business is never ideal. Try getting money from other sources, let getting loans be your final option

 

[alberello75]

I would not be in favor of starting a business through a loan from a bank. This because the banks, at least here in Italy, have too high interest rates!

 

[skyliequiz]

Everyone believes that if you take out a bank loan, you will have enough money to start your business and that if it succeeds, you will be able to repay the loan. That plan for success may fail; when starting a business, everyone thinks of success and wealth, but no one thinks of failure and poverty.

 

[Laurentta]

It can quite difficut to gather enough capital all by yourself start up a business especially if it's a large business. Many times people often take loans from bank to start up their business, i'm not against it, the only thing is they should put alot if effort in the business so they'll be able to pay up on time.

 

[HayKay]

It is advisable I'll state why. Borrowing to invest as long as you have a solid idea of how to run that investment is the only advised type of borrowing; that way you are expanding your capacity because you're investing on something that would bring in returns for you