Menu
Home
Advertise
Forums
Search forums
What's new
Unread posts
New articles
New article comments
Latest activity
Earn Money
Money apps
Passive Income
Paid Survey
Forex
Stock
Real estate
Paid to write
Social Media Earning
Review Website/Apps
Crytocurrency
Bitcoin (BTC)
Ethereum (ETH)
Crypto Exchange
Mining
Crypto Faucet / Airdrops
Binance
Business
Business strategy
Funding a business
Marketing
Digital Marketing
Social media marketing
Email marketing
Brand management
Personal Finance
Money Saving
Retirement
Personal loan
Savings for Students
Debt help
Tax relief
Insurance
Car Insurance
Life Insurance
Liability Insurance
Home Insurance
Health Insurance
Disability Insurance
FAQ
Log in
Register
What's new
Search
Search
Search titles only
By:
Search forums
Menu
Log in
Register
Install the app
Install
Home
Forums
Money Making Forums
Business Ideas Forum
Business strategy
Should i start small or get a loan
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Reply to thread
Message
[QUOTE="Kendy, post: 214008, member: 63869"] Starting a new business with a loan has so many implications and this is not advisable mostly for new or upcoming businesses. It is better to opt for; grants, empowerment schemes, investots or through your personal savings. No doubt, getting of loans is one quick way of having funds but it also has disadvantages because of the pressure and the limited timeframe of repayment. Also, they are cases where an impending or unforeseen circumstances occur and you are able to balance the equation between repaying the loan and maximizing profit which become so detrimental to your psychological health and to the business as well. It is important to always have a back-up plan in order to pay the loan and also bring up creative and innovative ideas which could help you in maximizing profits and also with customer retention. Most small scale business owners or large-scale business owners alike who took loan for start-up businesses do not really have a good story to tell especially during the upsurge of the unfathomable covid-19 pandemic which was a great disaster and came to everyone as a shock, in this instance if you had gotten a loan you will be so hard for you to refund due to the total lockdown and your time keeps running out and the interest rate attached to the loan keeps increasing. [/QUOTE]
Insert quotes…
Verification
Post reply
Home
Forums
Money Making Forums
Business Ideas Forum
Business strategy
Should i start small or get a loan
Top