Starting small or getting a loan

[Senator]

I am one of such oersone that would never advise anyone to get or go secure a loan for any business whatsoever they think they want to start. I would rather that you started a small business from scratch and build it up that collecting a loan for any business

 

[Setfragil]

Starting a business small depends on the type of business that you want to establish. I prefer starting small as it will help me to grow my business at my own pace.

 

[Richard92]

Am in support of what you have just said as your opinion but it matters allot when you don't have enough capital to set or actually start up a particular main business.
yes you have to give them a collartral that is more big and worthy enough even more than what you loaned.

To me I prefer to start small than to go get a loan to start a business I don't believe in getting loan to start up a business because of the high interest rates but if it is a government grant then I can accept it.

 

[Skysaint]

Your decision is good and I don't also think differently. It's very unsafe for one to take loans for business startups, it's much better to start up small and reinvest your later profits back into the business for it's development

 

[Richard92]

Am in support of what you have just said as your opinion but it matters allot when you don't have enough capital to set or actually start up a particular main business.
yes you have to give them a collartral that is more big and worthy enough even more than what you loaned.

I prefer to start a business more than getting a loan in starting up a business all because I am always afraid of the increasing interest on loan and because of this I will prefer to start up my business with my own capital.

 

[McIrx]

As regards this their is clarity; start small and when the business is consistent and is crying out for an expansion then get a loan for the expansion. Starting a business with loans can be dangerous.

Manchester Unites fans and the Glazer family are always at war simply because the family secured a loan to buy the club thereby transferring the debt to the club and putting it under unnecessary financial strain.

 

[Ralphjoe]

I am one of such oersone that would never advise anyone to get or go secure a loan for any business whatsoever they think they want to start. I would rather that you started a small business from scratch and build it up that collecting a loan for any business

For me I prefer starting up a business small no matter how small the businesses rather than just going to take off a loan to start up a big business because I know that even if I were to fill in the small business it wouldn't be that bad only when I take out a loan to start up a big business and I fail. That is capable of making me go bankrupt.

 

[Ceeny007]

I've always been giving this advice before you go out seeking for loan make sure it is to support existing capital and not to start from scratch

 

[Kubiat-Abasi]

In my own practicality, I'll start small than take a loan. I will only get a loan with little or no interest rate attached when I've gathered momentum.

 

[Blessingedidiong]

I agree with you on not starting a business with a loan. Starting a business with a loan is creating problems for a business that is just starting out. It is better to start small and grow the business with the profit that comes in.

 

[Stnicholaz]

Starting small is the right way to good, grow the business gradually with a peace of mind compare to loan when you are faced with paying back the loan with loan on a business that is not fully established.

 

[eLdavis]

Starting small is the right way to good, grow the business gradually with a peace of mind compare to loan when you are faced with paying back the loan with loan on a business that is not fully established.

This is just it, the reason why most people go for loans, is simply because they do not have the patience to actually wait, they feel loans are quicker, so they can start on time and make money fast, but it's actually better to start small and grow the business steadily with peace of mind.

 

[Masifon]

I prefer to start small. Everything big and attractive once began small. You need to strategically utilize the little you have and boom, it would double up.period!

 

[Timfak]

Although starting small has it's own benefits but at the same time getting a loans has it's own benefits as well. Nowadays, your business have to be big so as to make more profit. And also it's difficult to start a business without a reasonable capital. And most people can't afford it,so they go to get a loan

 

[Ezekiel]

To me I will prefer starting small, because I do not like working under pressure,some loan company gives stipulated time to payback,so with this one will be working under pressure so as to meet up with the time

 

[Setho]

It is always advisable that you should start your business small and then scale it up with time but then if you can get a low interest loan then you can as well consider it.

 

[Heatman]

When it comes to starting a new business I'm not really a huge fan of getting a bank loan to start up a new business because it comes with added pressure that will choke the business.

 

[tyrim88]

Getting a loan to start a business isn't bad if you have a solid business plan and you're sure you'd be able to pay back. Although, it is always better to start small with the little you have especially newbies, see how things goes first before you make any loan decision.

 

[Joymax]

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

It is not advisable to start a business with a loan. Start with whatever amount you have. Once you have grown to a point where you start getting profits, then borrowing can no longer be a problem

 

[JoeTom]

I'll say if you have a well established knowledge on the business you would like to venture into, you can get a loan but if not, don't do trail by error with a loan. Starting can handle that...