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Would you borrow money to start up a new business

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    ASK Would you borrow money to start up a new business

    One common factor that is peculiar to all business in the world today is capital to set it up. Without the capital to set up a new business, the business idea is a useless idea because it would bear no fruit.

    Now having known the importance of capital to any new business set up and should you find yourself in need to start up a new business but down on capital, would you borrow money to start up a new business?

    #2
    Yes, I am. I want to borrow money so I could start up my business. It was good if you have more capital when you start a business so you know what you can do if you start it, Like when you want Fastfood business you really need a big capital to that.

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      #3
      I would rather start a small business where the capital of which will come from my savings rather than borrow and repay with interest. In other words, no matter how small the investment as long as it's free from debt. Or if it cannot be avoided make some loans with a spread out payment scheme if there is not enough savings. The technique is to start small with a grand vision rather than start big but not able to maintain it.

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        #4
        Originally posted by daisy View Post
        Yes, I am. I want to borrow money so I could start up my business. It was good if you have more capital when you start a business so you know what you can do if you start it, Like when you want Fastfood business you really need a big capital to that.
        If you are convinced that borrowing money to start up your new business is the last option or card that you have to play, then maybe you should do that. But my advice before going to borrow money is make sure that you have studied all the risk, strength and weaknesses of the new business before going into it.

        Good luck.

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          #5
          Originally posted by Augustus Caesar A Guarin View Post
          I would rather start a small business where the capital of which will come from my savings rather than borrow and repay with interest. In other words, no matter how small the investment as long as it's free from debt. Or if it cannot be avoided make some loans with a spread out payment scheme if there is not enough savings. The technique is to start small with a grand vision rather than start big but not able to maintain it.
          You have a very good point, it's always risky to start up a new business venture by borrowing. A lot of factors can affect the business in a negative way and you will end up with lots of debts to pay from a crumbling business. But with your own capital and effort in growing your business, it's most likely to succeed in no distant time.

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            #6
            Yes for me. Barrow money to the bank and other lending company is not bad as long as you know how to pay them on time. But we have to consider also and remind ourselves that we will be barrow not for leisure but for the business that we gonna put up.

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              #7
              Originally posted by Martinsx View Post

              If you are convinced that borrowing money to start up your new business is the last option or card that you have to play, then maybe you should do that. But my advice before going to borrow money is make sure that you have studied all the risk, strength and weaknesses of the new business before going into it.

              Good luck.
              I believe that you need also to know what kind of business you gonna put up. You must also study the ins and out of the business to be. Planning and doing own business has have high risk. You should have also a business plan so that you have a guidelines to follow.

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                #8
                Why not I will provided I have carried out my plan and I know that my plans will really work then I will source for money to execute it. I know starting a business can be very hectic and one will be so sceptical about the success but there's no harm in trial, so I will get the money and try out.

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                  #9
                  I am not a good risk taker when it comes to business. So, I prefer to start mine with my own money. I don't have to worry if it get lose or not. What is important for me is to engage on business that I know and I'm capable of growing on some point. I want to learn the strategies and how to market business without thinking it's disadvantage which is debt.

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                    #10
                    If I have a capital, there is no need for me to borrow money from the bank or from anyone. Its not easy to borrow from the bank or lending institutions. They have many requirements for you to comply before they will lend you big amount of money to start up your business. That is why most of the people just settle down to become an ordinary employee because of so many things to consider in starting up a business.

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