Starting small or getting a loan

[Shigobad2020]

Depending on the largeness and the quantity of the business you are trying to run , if its a big company and you don't have all the necessary amount of money to start ,then you need a loan

 

[Setho]

If you have the opportunity to start a business then I think starting small provided that you are having all the necessary requirement is what you should be going into. If it starts progress and then you can start considering loans.

 

[Syldan]

Personally I will prefer to start my small own business rather than engaging myself into collecting of loan which will makes alot of complications in terms of paying back the interest.

 

[Sincerem]

Since you don't have enough money to establish a full business then there's nothing wrong for you to establish a small business for a start and grow it to the standard you want it to be. Just that you have to spend a lot of time on the business to be able to manage it effectively to achieve the desired growth.

 

[Ghost]

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'm of the same view as you. I'd rather start my business with nothing than go out to borrow. The idea of always having to pay interest should discourage everyone from doing this

 

[Godspower]

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 have made a very good point. It's actually better to start small instead of borrowing to finance a business. There are too many unknowns so it's better you don't fall into loan traps.

 

[Partisan]

It all depends on the individual. Anyone that starts a particular business with a loan needs greater dimension of discipline. With discipline, an individual that started a business with a loan can even succeed more than an individual that started small. The individual that started small may allow some level of laziness because there is nothing like pressure from anywhere.

 

[Treborika]

Personally my opinion on this is simply this, Never ever take any kind of a loan to start your business. A business is never started with borrowed money.
Most of business loans charge a big interest rate that the business cannot stand. Most businesses end up collapsing because of these and other reasons.

 

[Godspower]

Personally my opinion on this is simply this, Never ever take any kind of a loan to start your business. A business is never started with borrowed money.
Most of business loans charge a big interest rate that the business cannot stand. Most businesses end up collapsing because of these and other reasons.

It's better to start small with your own money than to obtain loans from banks or financial institutions. Most of these loans come with high interest rates and you might struggle to repay on time.

 

[tyrim88]

It actually depends on the Choice you are willing to make ,I guess most actually do start small and at the end get the required benefits ,with a good management of the business ,if you started either small or big you would get the advantage

One of the thing most business person do not really understand is that for the health of the business and for the owner not to be in uneccessary presure,it is not advisable to go for a loan for a new start up.

 

[Danny4cash]

I'm not a big fan of taking loan. I prefer to start small instead of taking loan. Using a loan to start a business will put alot of pressure on a person. Every Business has its own risk.

 

[joy101]

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

For me I prefer starting my own business with my funds not idea of taking loan because is very very risky, paying back the loan for be very difficult that is why I don't like the idea of taking a loan to start up a business.

 

[Chibson]

Many financial institutions will not agree to give you a loan if you do not have a very good collateral. this is why it is important or necessary that you start small then when you might have built or grow the business you can take a loan to expand more.

 

[Shigobad2020]

Depending on the type of business you are aiming to start in your line of business , if the business requires huge amount of money , then you need to sort for anither source of funding which might be getting a loan .

 

[Godspower]

Depending on the type of business you are aiming to start in your line of business , if the business requires huge amount of money , then you need to sort for anither source of funding which might be getting a loan .

I prefer starting small to obtaining loans from banks or other financial institutions. Loans would always put the business under pressure to succeed and it might be counter-productive.

 

[joy101]

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 prefer starting from small business instead of taking a loan to start big because when you start with small before you know the business will become, when you have a good planning.

 

[Shigobad2020]

I prefer starting small , like starting from scratch and building my business from a little and gaining confidence along the way , rather than getting a loan from the loan shark .

 

[Hrtbeat]

I prefer starting small , like starting from scratch and building my business from a little and gaining confidence along the way , rather than getting a loan from the loan shark .

Starting small might be difficult but it certainly has it's own advantages. You wouldn't have to worry about repaying loans obtained from banks and other financial institutions.

 

[Godspower]

Starting small might be difficult but it certainly has it's own advantages. You wouldn't have to worry about repaying loans obtained from banks and other financial institutions.

I would never advise someone to take a loan to start a business. It is usually risky and most loans come with high interest rates and they usually require collateral which you may not have.

 

[Chibson]

If you are experienced in business and you have proper knowledge of the business you are venturing into, taking a loan is the best but if you have not been into a business before it is better for you to start small. With time you can grow in the business.