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Funding a business
Living above borrowing
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[QUOTE="Abigael, post: 237999, member: 25357"] [SIZE=18px]I believe that it is very possible to live above borrowing. Both with your personal finances and business finance. You can completely run a business successfully with the little amount you have until it becomes successful. You don't need loans for a startup, you can look for other means such as saving up your income. I know that successful businesses usually borrow and there is a saying that you need to use money to make money. That is what successful businesses do, they borrow money to expand their businesses to be greater. Mark you, they take a loan in order to expand an already existing business, not for a startup. Startups require you to plan well so that you can decide on a better source of income that does not involve having to pay back after a while. Then you can manage the little amount you have so well so that it does not get wasted. All business funds need to be managed really well so that it can earn you profits without getting wasted. Otherwise, you will end up taking loans to correct a financial management mistake that occurred. Which is not great for business. Loans are supposed to be just for expansion. [/SIZE] [/QUOTE]
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