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: Xtynehappy
I have a great business idea that is somehow very capital intensive but very profitable. So can l consider taking of loans to fund the business.
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Do you really consider loans as the main source of capital?
- Thread starter Xtynehappy
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Loans can never be the major source of capital for my business. I don't even see it as a viable source of capital for business. It is just supplementary.
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It all depends on the person himself, but in my case, it is not good to loan just to build a business. I saved before I managed my milk tea business.
Nope, it is even wrong to depend solely on loans wheh starting a business. You need to have a little start up business Capital with you
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That's right mate, there's less worries if the capital is not from a loan. It takes forever to pay the loan.
Be creative and explore other alternatives because loans are not advisable.
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It's a scary method to start a business with a loan. What if there's less profit in succeeding months? The loan interest surcharges.
It is very scary. In fact, very few people have started businesses with a loan and absolutely succeeded in paying back the loan and still run the business.
Starting a business with loans may not be the best idea. If your business does not take off, how will you manage to repay the loans? Unless you have additional funds set aside, it is better to save up for your business.
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Loans can certainly become the main source of capital for your business, a lot of businesses are founded with loans.
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Though there are a lot of businesses out there who rely on loans to run the business, but I do not consider it as the main source. There are times I pick up other gigs to do just so I can run my business.
Why are you so sure that this business is very profitable, have you ever run a similar business in the past, if not, have you done market observations? Loans as the main source of capital require in-depth consideration and analysis.
Loan should be considered supplementary capital in business. It is advisable to take loan to facilitate a lucrative business not as initial capital to start a business. It is too risky to take loan to start business because a very business have 50 percent chance of succeeding.
