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Business Ideas Forum
Funding a business
Do you recommend taking loans to start a business?
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[QUOTE="Kendy, post: 217891, member: 63869"] No, I do not recommend taking of loans to begin or setup a new business. There is this joy and satisfaction that comes with setting up your business through your personal savings or other means asides loan. It is very important to make logical planning and work with a realistic budget depending on your financial strength. What happens in a case where a food store vendor or a fruit seller takes up a loan to run a business and a deadly pandemic hit so hard just like we experienced in the Corona virus period, how do you hope to recover even the capital to repay? The repayment date keeps counting not minding if there is a global pandemic or not. What happens when an individual takes a loan to invest in real estate business and after purchasing the land, the location or environment is hit with disaster, insecurity or a hurricane attack? What will the investor do at that point, where the problem is beyond repairs. This goes all out to let us know that unforseen circumstances are not being planned for, but they are bound to happen and the pressure will not be as intense as in cases where you have a loan to pay. [/QUOTE]
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Funding a business
Do you recommend taking loans to start a business?
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