Should i start small or get a loan

[Holicent]

This is a question that’s often asked by many people. Should I start small or get a loan? The answer depends on what you want to do and how much money you have. If you want to invest in your business, then it’s better to invest in something that can generate revenue than just starting off with nothing.

On the other hand, if you don’t have any money at all and need some cash flow for your business, then it might be wise to get a loan. In today's economy, you may be wondering whether it's worth starting your own business with a loan.

One way to get started is to borrow from friends and family. But if you're not using their money for something worthwhile, they may not be happy about it. Plus, there's the risk that they'll say no if you ask for more money later on.

You might also consider searching for grants or start-up financing options like crowdfunding. These can help you get the funding you need without having to rely on outside sources like banks or investors.

 

[King bell]

There is no one answer to this question, as it depends on your unique situation. If you have a good credit score and a steady income, you may be able to qualify for a small business loan. This can give you the capital you need to get your business off the ground. However, if you don't have the best credit or you're not sure about your income, it may be better to start small. You can always ramp up your business later on once you have a better handle on your finances.

There are pros and cons to both starting small and getting a loan when starting a business. Starting small means you'll have less overhead and expenses, but you may also have less room to grow. Getting a loan gives you more capital to work with, but you'll also have more debt to repay.

Ultimately, it's up to you to decide which route is best for your business. If you're not sure where to start, you can always consult with a business advisor to get some guidance.

 

[sincerem]

I will advise you to start from small if you don't have much funds to run your business. Taking a loan to make up your business capital wouldn't be a wise choice since you're still a new start up. You can gradually grow with that little funds, provided it can get you to somewhere. If you take loan, it means that your profit will go for your loan repayment, and you'll suffer for months trying to meet up to clear the debt. What if you didn't record profit for that month, how will you pay your loan back if it is monthly repayment type? Because during early start you'll struggle to balance up, you'll face challenges trying to climb up, so the best is doing it without taking a loan.

 

[allison001]

It will depend on so many things that will determine the best decision . If you have experience of the business you are interested to start , you could possibly get a loan to start the business but at the same time you must understand the risks that is associated with using a loan to start up a business.

Without proper experience of the business , it may not be the best decision to get a loan to start up such business . It will be the best for you to learn about the business by starting it small and this will help increase your chance of succeeding if you are to get a loan to establish a huge one.

It is always advisable to avoid getting a loan most especially to start up a business you do not have an understanding about . It might not end well. The risk is too much.

 

[Carpon]

I won't just say you should start small or get a loan without gauging the effect of the two and how any of the two could be used to produce the same result over time.
Getting a loan first. Starting big is always a good option but the knowledge on how to start big and continue big must be there because there a lot of businesses that started big and rather than grow slumped and then died.
The worst part of it is that you have a loan to settle and therefore must be able to make the best use of the funds and make the best use of it without errors because it will be a lifetime mistake.
Starting small on its own side too is good though at times not easy because you will have to take time to grow and the impact you might make in a small business will be nothing compared to the one you will make in a mega business set up. But as a small business owner you must know the kinetics of micro business and apply necessary tactics and knowledge in running it until it had fully matured into a mega business.
I advise you to start small and work hard.