Starting small or getting a loan

[Niftyyem]

I would never start any business with loans from bank, This is my personal opinion, because I have seen how many Banks treat their debtors, most people that start a business with loan don't usually have peace of mind and the collateral they give in exchange is also big
What did you see to this?

I agree! Starting small with what you have saved up is a much better option to getting loan from bank with the high interests and pressure to pay involved.

 

[Richard92]

Knowing money management and how money is properly utilise and the process it goes through to generate returns is very vital to the growth of any business.When we started our courier outfit,though the money came in to start the outfit and soon we were able to get our personl product and do the delivery for our clients,the money to finance it was there,then came in some financial issue that almost brought us down,we have to learn from some of our mistakes and learn to manage things in micro aspect including how we spend for overhead and sundry expenses,it really helped us to value the importance of small and managing things in details.

To me I'll prefer to start small than taking loans from the bank because sometimes the interest that have been added to loan collected from the bank for straight small skill businessman.

 

[tyrim88]

To me I'll prefer to start small than taking loans from the bank because sometimes the interest that have been added to loan collected from the bank for straight small skill businessman.

One thing you will learn is the value of details.you will be able to understand money dynamics in small scale,and that is what will be needed when the business has grown to an appriciable level.Youwill understand patience and learn how to nurture things to maturity.

 

[Setho]

To me it is going to depend a lot on the business that I am about to take if it is a small business then I will definitely start small but otherwise I am definitely going to take a loan.

 

[Chibson]

I will definitely choose to start small because that will give you knowledge and understanding of how business is really works but if you take loans if a business does not work if you go into bad debt.

 

[Razor1911]

I will definitely choose to start small because that will give you knowledge and understanding of how business is really works but if you take loans if a business does not work if you go into bad debt.

Even if someone takes loan for the business, I would still suggest that they should invest small amount first. In the beginning, we should give time to our business to show some positive sign, then only go for the whole investment.

 

[Jlife]

I do not like both of them either but if I have to choose, I'll start my business small then grow it to the full business I always dreaming of, but starting a business small and growing it can be time-consuming.

 

[Bousine123]

I'll advice you start small my friend. Getting a loan will bring a lot of burden that you wouldn't want to carry as a business owner.

 

[gammarays]

Starting a business with loan is not good because it's not easy starting a business. I prefer starting small with the little you have. You can take loan from the bank if you want to expand.

 

[Richard92]

I'll advice you start small my friend. Getting a loan will bring a lot of burden that you wouldn't want to carry as a business owner.

Is there for you to start more than getting a loan because most times the loan to pay back will be very frustrating if the business is not that kind of business that has more interest.

 

[Sotherefore]

Loan generally is not advisable for you to use in starting a business you are not certain of its success, sometimes a loan should only be gotten for business that has already in a success lane.

 

[jeff87]

I would never start any business with loans from bank, This is my personal opinion, because I have seen how many Banks treat their debtors, most people that start a business with loan don't usually have peace of mind and the collateral they give in exchange is also big
What did you see to this?

You are right not to start a business with loan. I have seen a cycle where a person loans from the bank and then he make another loan to pay off the first loan and so on and so forth.

 

[Chibson]

There is actually nothing wrong in getting a loan to start up a big business provided you have the knowledge and understanding of how to make a business successful.

 

[Setfragil]

You can start small if the business does not require much capital to establish and you can get a loan to finance the business if the capital and other resources that you have cannot run the business successfully.

 

[jeff87]

I prefer to start small..There is no successful business that didn't start small..I really don't buy the idea of collecting loan..It doesn't go down well for me..Because the rate at which cooperatives charge interate is really unbearable especially for beginners in business who have little or no idea..I think starting with small amount can still make ur business grow with time..

I agree also with starting small in business. Big business starts from a small business. I have worked with a real estate business before that started as a small company but ended up as a big company.

 

[Kaffyfolla]

Begin with the little you have, when your products has has been accepted with your environment that you know if you obtain loan you will be able to paid to fulfil your loans obligationsthen you can go for it

 

[Immilash]

Starting small or getting a loan?as for me I sujest to start small and latter catapult in to a huge business,than to seek for loan and latter pay it back

 

[Chizfab]

If you business is viable and can start making returns after some months, please take a loan. But if you ain't so sure that your business is viable and can yield returns in months, more like tasting the market, please do not take loan.

 

[Alisco]

To me I prefer to start small hoping that it will increase to a more bigger one than to go and get loan to start a business .

 

[Solutionav]

I would never start any business with loans from bank, This is my personal opinion, because I have seen how many Banks treat their debtors, most people that start a business with loan don't usually have peace of mind and the collateral they give in exchange is also big
What did you see to this?

Honestly am in support of what you said, getting a loan from the bank can be frustrating and sometimes you end up closing the business, is better you get a loan from family and friends to start up.