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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="Etini, post: 281784, member: 90141"] I won't advocate that one should take a loan to start a business. I would to a reasonable extent support someone taking a loan to expand an already existing business. This is because the start of a business is plagued with lots of risks and challenges that might cause the business to fail at the initial stage. I have seen so many people that took loans to start businesses and a vast majority of them did not end well. Only very few were able to break even. Remebrmer every loan comes with an interest. That interest might have been your plough-back profit that could have been used to expand the business. My take is always this- save some money and start the business at any level. Understand what that particular business entails, and run it for some time before you go get a loan. By so doing, you would minimize the risks and pressure associated with loans. [/QUOTE]
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Funding a business
Does taking a loan to start a business end well?
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