Rachael
Verified member
Here on this forum, there are some of us here who own businesses which could either be offline or online. Setting up a business is not a day's job because Rome was not built in a day. There are certain factors that has to be put in place and certain challenges ascertained in order to find preventive measures. For all this to actualize, we need funding or capital to set up the business. One of the biggest challenges that comes with setting up a business is either limited funding or no means of funding at all. This has made so many creative business ideas go down the drench.
However, there are many ways in which funding can be obtained and the most popular method is through obtaining loans from financial institutions or from friends and money lenders. Well, to me this might not be the best option because of the pressure of striking an equilibrium between making profits and repaying the loan. Other ways of raising funds could be through; crowdfunding, opting for an investor, partnership with someone so the cost can be borne by the both parties or through empowerments and grants from the government. We all have our stories how our business was set up and I would like to know if it was strictly through loan and what was the impact it had on your business?
However, there are many ways in which funding can be obtained and the most popular method is through obtaining loans from financial institutions or from friends and money lenders. Well, to me this might not be the best option because of the pressure of striking an equilibrium between making profits and repaying the loan. Other ways of raising funds could be through; crowdfunding, opting for an investor, partnership with someone so the cost can be borne by the both parties or through empowerments and grants from the government. We all have our stories how our business was set up and I would like to know if it was strictly through loan and what was the impact it had on your business?