Major challenges to start a business with loan.

[Josan]

Securing the right idea or the technical know how of the business and defining the required tools needed to establish it. Capital is always sighted.

 

[ahmedo24]

Securing the right idea or the technical know how of the business and defining the required tools needed to establish it. Capital is always sighted.

It is very easy for someone to work and get capital to start a business because you already have your plan the next is execution but if you don't have business idea and knowledge about the business plan even if the capital is there success may not be guaranteed.

 

[tyrim88]

This is the major issue with taking loans for business startup, you do not know how the business would go. You might not get the amount of profit you have hopped for at the beginning, what happens when things do not go as planned? You would start looking for ways to pay back.

And that is the maor reason why most financial housese are very sceptical about giving loans to new start ups,this it due to the fact they have not actually run the business to see the profitability in the venture yet.

 

[Tochi]

Starting a business with a loan doesn't speak well to a greater extent. The believe that after getting the gainsthat comes from such business, the thought of paying back isn't all that easy.

 

[eLdavis]

And that is the maor reason why most financial housese are very sceptical about giving loans to new start ups,this it due to the fact they have not actually run the business to see the profitability in the venture yet.

That's just it, no one would want to put in their money or give out their money to someone or somewhere they are not sure of getting a return back. That is also why most loan apps have various levels where you might not be able to take loan of 100k and above until you get to a specific level.

 

[Jhayms07]

To be honest there are lots of businesses that started off with loan and did fine,but personally I won't advice that because it comes with a certain pressure especially when there is an interest attached. If it's without interest,it's still reasonable but the business has to have been properly thought through

 

[Yaqoob Habib]

starting a business with a loan is not advisable, cause it ties down the profit of a business, all the profit you get from selling will be used to pay back the loan, profits that is suppose to increase the business and also live on will now be directed back to paying loans, there's no way such business will grow, and the owner of the business self won't grow financially.

You are absolutely right that If you take a loan from any bank then you will have to take interest from it.But the biggest issue in our country is that if you want to take a loan, then you have to give security to the bank, without security, the bank does not give you a loan.

 

[Kelly5]

Lol!! When doing business with a borrowed money or loan, that thing you call fear is a constant thing that will haunt you throughout the duration of that loan for the business. And it's not a good moral booster at all

 

[Setho]

Some financial institutions will insist that you should always service the loans that are being given to you and that is what a lot of longtime businesses cannot afford.

 

[Ezekiel]

The challenges of starting a business with a loan is it make me work under pressure, because I will need to work and pay of the loan with the fixed time

 

[Tracee]

One of the major challenges of starting a business with loan is the fear you have. Try not to start a business with loan because you will have to return it with interest.

And the interest is crazily in the high side, If I could afford all that I wouldn't be taking loan in the first place, also starting a business in loan is definitely not a good start.

 

[Sotherefore]

Business expert will not even advise someone to go into a business with a loan because I just think this is the wrong way of starting up a new business you should save at least 50% of the money you need in starting up the business.

 

[Senator]

One major challenge in starting a business with loan is the fear of losing that loan to a failed businesses at the end of the day. This gear we are talking about here right very real and not a joke

 

[Kubiat-Abasi]

Insecurities and fear of the unknown. I will only take a loan to start a business if there's no interest rate attached to it. Taking loan to start a new business will likely not yield divedends and might lead to quick collapse.

 

[Stnicholaz]

One of the major challenges of starting a business with loan is the fear you have. Try not to start a business with loan because you will have to return it with interest.

The major challenges of starting a business with loan is to pay back in due time. Most times business take time before it gain stability and banks will not wait for that to happen. Trying to sustain the business and same time pay back loan and interest can be challenging.

 

[Ellamma]

Starting a business with a loan most times is not the best option. You'll live in fear and for some months your attention and interest will be on how to repay the loan. It's fearful

 

[Skysaint]

The pressure alone that it will impose on you alone isn't always very welcoming and this might affect your business decisions especially if you notice that things aren't going well as planned

 

[Kaffyfolla]

Starting business with loan will be somehow difficult to achieve profit at initial stage especially if it short tem loan whereby it is going to be repaid within short period, the fearness of the length of the time to repaid loan may affect the investor not to focus on how to build the business firmly

 

[Toyoabasi]

One of the major challenges of starting a business with loan is the fear you have. Try not to start a business with loan because you will have to return it with interest.

Yes. The fear of not being able to meet up with the repayment is enough challenge.
It is better not to start a business with a loan so as to be able to take your time and make profits without any disruption.

 

[Hrtbeat]

Starting a new business that you don't have an idea on with a Loan is not advisable. Rather start with your own capital then at times goes on, when knowing deeply how the business works starting with your little capital, you can now apply loans options if necessary