For sure l have a business idea that marks as the dream business. I had really planned to start that one with my cash from the savings but due to the financial constraints l would go for the loan. What can you say about that?
Did you planned to start the business with a loan?
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eLdavis
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I have said this before but one thing I fear the most is taking loans. I would rather save up to start my business than rely on loans.
Look at the business idea if it is worth going for a loan to kick-start it then go ahead. it's for your own good
Loans are not good sources for business capitals That is because most of them charge very higher interest rates for that matter.
I can say that the starting of the business with loans is likely to take the business astray because of the higher interest rates charged on the loans.
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No, I spent my own savings on building my first small business. It is not good for me to apply for a loan just to start a business what if it won't work?
If unable to provide money as a capital for the business, next option is the loan but I am not recommending to take loans. One thing is for sure, they charge high interest rates in just a small amount of time.
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No, I never intended to kick off a business using loans. It is never wise to take out a loan when starting a business. It is better to save up for the business you like.
I have never planned to start my business with a loan. It is even very difficult to get a loan in my country when you want to start a business.
For me,l urge that doing businesses with loans is very stressful as one strains very much on the repayment of higher loans plus the interests.
I would hesitate to start a business with a loan. I prefer to wait until I have enough savings to start the business. That said, if you are really keen to start one, check out if there is low interest loan offered by your government. We have it here.
I had a clear plan on how I would raise funds to start my business and taking of loans was not part of the options.
If it is your dream, do it anyway. Of course, if you already have a plan for this particular dream, there is a 50% chance that your business will be successful.
I guess that most businesses being started on loans really have a bad ending .
