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Business Ideas Forum
Funding a business
Does taking a loan to start a business end well?
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[QUOTE="Chibson, post: 232912, member: 27553"] Like someone has stated up there, there are some people that take loans to start businesses and they succeed on it but there are also many people that they close to start businesses and they end up going into bad debt. Personally I wouldn't advise anyone to take a loan in order to venture into a business because it carries a lot of risks on the long run especially when you are a newbie in business line. A lot of people are always in a hurry to start big businesses that they do not have proper knowledge and understanding of how to run. I always advise people to start small and from there they can gather a lot of ideas and knowledge of how to make their business successful. If you start small and you are able to grow it to a reasonable extent then you can now request for loans from banks or any other means to expand your business because you already have proper knowledge and understanding of how to run a successful business. There is a high possibility that such a business will probably succeed. If you are new to business and you're taking a loan you will be under pressure to make profit which is not good for your new business. [/QUOTE]
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Funding a business
Does taking a loan to start a business end well?
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