Asking for Would you borrow money to start up a new business

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Martinsx

Active member
Seriously, it's never a good idea to start up with a new business on debt foundation. It's never going to bode well for the business because it's going to add lots of pressure on the business owner which isn't going to make you manage the business efficiently and effectively.

Business have its ups and downs, and dealing with the downs challenges of the business on debt isn't advisable at all.
 

samwaters

New member
I dreamed of starting my own small business. For a long time I tried to take a loan from banks, but I was denied. I spent a lot of time looking for a reliable service. According to reviews on the Internet, I turned to the paydayinusa service. They really helped me. Now I have a small business of my own that earns enough money. Feel free to ask for help for your dream.
 

peterradcliffe

New member
yes for business, capital is necessary.without money you cant start a business. but, if you don't have the capital for your business then only you can borrow amount for a bank or private loan company.
 
Yes for sure we would borrow a loan or finance to start up a new business. Without investing on the business we cannot expect the return on investment. So for every business we need capital that might be less or more depending on the type of business we start.
 
Business owners should invest their own equity first before taking on debt or seeking investments. Savings should be considered first because there is no required repayment and you won’t have to share the profits later.
Investments from friends and family often have favorable terms. Family members can be the most patient investors, perhaps not demanding profits or only seeking their principal returned if the business is sold. Friends may offer less onerous terms than other equity investors, too.
 

GuestHu

New member
Business is about taking risks. Yes, I will loan some money to establish my business. I need to be optimistic and be creative in solving a problem if something goes wrong. But I have to be careful and smart enough not to squander and sacrifice all my hard-earned money. I will come up with a lot of plans to make my business continue and survive and ask for help from others if necessary. Starting up a business is no easy task. Progress is not linear. It takes luck and determination to make a business successful.
 

Martinsx

Active member
It's so sad when you have to borrow a huge amount of money from any lending institution to help finance your business but things never go well and you have to end up paying back the loan borrowed from another source of money. This is actually one of the reasons why most people are afraid to borrowing money to help improve their business.
 

blackmist

Member
That is what I'm concerned about. I know some people who loan just to make their business more profitable but the business went bankrupt. The worst case is that they lost the entire business almost everything, and some property.
 

Martinsx

Active member
I am not comfortable in borrowing money. I would still prefer to save my own capital then start a business than borrowing. Loaning is not bad but there is still a chance that your business will not bloom as you expected that's why for me I would still prefer to save money then start my business. It is not that I don't trust myself in running the business will but I'd like to stay on the safe side if encase something goes wrong with the business :).

Well, depending on the type of project you have at hand, you would be left with no option but to borrow because it's almost going to be impossible for you to source the capital independently to execute such project. But my advice under such circumstances is to be very careful with how to pay back the loan because if not you would end up being in perpetual debt.
 

blackmist

Member
I am not comfortable in borrowing money. I would still prefer to save my own capital then start a business than borrowing. Loaning is not bad but there is still a chance that your business will not bloom as you expected that's why for me I would still prefer to save money then start my business. It is not that I don't trust myself in running the business will but I'd like to stay on the safe side if encase something goes wrong with the business :).
 

Martinsx

Active member
To start a new business, you definitely a good capital. Now, to arrange for the amount, you either need to have a lot of saving or borrow money from friends/relatives or take a loan. I would not risk borrowing money from someone or taking a loan for that matter. They would become a huge burden if your business does not fetch good returns and you will not be in a position to pay back on time and will have to face the regret for lifetime. It is better to start something new from your own money so that only you will be responsible for your actions.

Exactly! It's never a good thing to start your own business with debt management because it would weigh down your business on both short and long term basis. From my experience with business, I don't think straight when I have lots of debts to pay off.

So, in my opinion, no matter how much you wanted to set up a new business, it's not appropriate to set it up with debts flying around. Get enough capital and start the business strong.
 
K

kaushikangara

Guest
To start a new business, you definitely a good capital. Now, to arrange for the amount, you either need to have a lot of saving or borrow money from friends/relatives or take a loan. I would not risk borrowing money from someone or taking a loan for that matter. They would become a huge burden if your business does not fetch good returns and you will not be in a position to pay back on time and will have to face the regret for lifetime. It is better to start something new from your own money so that only you will be responsible for your actions.
 

Martinsx

Active member
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?
 

davedaot

New member
I mean the answer is common sense. If you have a capital then there's no reason for you to borrow money but if you don't have then borrowing money is the only option you have, you just need to plan it carefully and to really assure that your business will click and that you'll be able to pay the money you borrowed.
 

jeffreyjose48

New member
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.
 

Jelineex

Active member
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.
 

Inem

Active member
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.
 

mark86

New member
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.
 

mark86

New member
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.
 

Martinsx

Active member
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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