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Business strategy
Starting a business on a loan.
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[QUOTE="Kingsley, post: 224238, member: 30278"] To be candid not everyone will agree to the fact that accessing loans to start a business or run a business will be a very idea. And we all present reasons like starting out a business with loans will make the business not to grow and it will greatly hamper the growth of the business interms of paying back interest on a business that is yet to gain experience in the business world. And we also say loans affect an existing business negatively too as it appears to affect the profit of the business due to the interwst that is been charged on the loans. But what they fail to realise is that those business people who goes for this loams too are to blame as many of them do not even have a very good business plans. And some that do have existing business are not spending the loans wisely as im witness where someone took a loan of about N200, 000 and spent about N175, 000 for his personal use and the rest on the business, you can imagine how will that business grow in the first place. Later the people will blame their failure on the loan. [/QUOTE]
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