Starting small or getting a loan

[Skysaint]

There is no much harm attached to starting little and growing what you have to become what you've always wanted. Personally, I do think it's much more better than involving yourself with the risk of taking loans for business startup. It the business doesn't go as planned you will face the consequences

 

[Adebayonle7]

My personal opinion as well, my reason is neither the way the bank treats debtors nor the collaterals but the fact that i have to use the profits from the business to service the loans instead of using the profits to build the business further. I raised capital from my monthly salaries and start small and things are smiling bit by bit.

 

[Mayox25]

In starting a business when there is limited capital one can start small and raise the capital needed from personal savings,contributions from friends and family.

 

[Seno inyang]

I prefer starting small because if I collect a loan for my business I will be restless and so much concerned about how soon I need to refund the loan. Nonetheless, do you know getting a loan will make you source for means to push and promote your business in other to meet up with more profit as well as the loan, this will make you realise several ways of enhancing your business instead of settling for the less.

 

[Stnicholaz]

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..

You are on point. I totally agree with you. It not advisable to start a business, it better to start small. Most of the established business started small. When the business is very much stable, Inflows and outflows of income is very much sustainable and there's need to expand. Loan can used for the expansion of the business.

 

[Lens]

It is better to start small rather than getting loans from the bank. Mostly, loan obtained to start a new business wouldn't allow the business grow.

 

[kayode10]

I think the best thing is to start your business small and grow big. This will give you opportunity to learn some valuable lesson in the process of building successful business.

 

[Kingstone]

One mistake we make all in the name of starting a business is taking loans from banks. To do that, I will rather build my reputation with these online loan apps rather than go to banks to request loans. I will not do that. Starting small is better

 

[Good-Person]

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?

Yes, this is true. There are many people who always have some sort of metal uneasiness when it comes to borrowing loans. It is always much better to start business with the small amount of capital you have but there are many people who are willing to take risk and borrow money. In the end they end up in greater trouble.

 

[Skysaint]

I think the best thing is to start your business small and grow big. This will give you opportunity to learn some valuable lesson in the process of building successful business.

You're right about that mate. There is nothing bad about starting small, after all most people who are in high positions today actually started little. It's more safe than taking a loan for business startup

 

[Godspower]

Yes you're right. I prefer not to take loans from banks to start a business. Most banks usually have high interest rates and the procedures before getting a loan are always stringent and an entrepreneur might not have the required collateral.

 

[Dagm1]

Getting a loan to start a business might be risky since if the business does not perform as predicted, one will be in debt. In my opinion, if you can get a loan to expand an existing firm or start with a little amount of cash, you should do so.

 

[kayode10]

It can be very difficult to secure a loan if you don't have a collateral these days. I will advise you to start a small scale business and grow it alone. You just need to be prudent with your spending and maintain positive cash flow.

 

[Godspower]

Getting loans from banks to start up a business is not really advisable. The process is always difficult and their high interest rates are always high. Sometimes an entrepreneur might not even have the required collateral.

 

[Skysaint]

Getting a loan to start a business might be risky since if the business does not perform as predicted, one will be in debt. In my opinion, if you can get a loan to expand an existing firm or start with a little amount of cash, you should do so.

I totally agree with you. Taking a loan for a business development is actually a better option than for startups as you have a higher chance of earning back the money in time

 

[Abigael]

I prefer starting small in business. Taking loans is just not a good option for me. This is because it is so hard to start paying back loans after starting a business. It can be really make it hard to break even.

 

[Josan]

Starting small is an option and getting loan is also an option, the good thing is that both are good options. If you can start small it's good and stress free but getting a loan you need to have a business plan in order to hit the business with the plan to make sure you the projected plan is not defeated.

 

[Ghost]

i would say start small, you will learn a lot in your journey to increase the size of your business and you will gain experience, loans are risky and comes with interests to pay later which makes you spend more money

I agree with you, if you have the option and the resources to start small why not just do it. Going to get huge capital as loans from banks just shows how greedy the person is

 

[Smiles20]

When it comes to running a business then I will advise that you should start small no matter the condition. You definitely have the option of taking loans to scale up The Business when it is going to mention.

 

[Good-Person]

Getting a load to start a business is sometimes risky what if the business did not yield has expected then one will b ib debt ..so my opinion if you can get a loan to boost existing business or rather you start with small capital

Well, the problem is that many people went bankrupt after getting a loan from the bank. Not only did their mortgaged property was confiscated, but they were also required to pay interest even after that.