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Personal loan
Taking a loan to start up a business, a good idea?
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[QUOTE="Richee84, post: 214553, member: 42448"] Starting a business with a loan to me is not a very good idea, though we all know that to have a personal savings to start-upa business is quite difficult to achieve as our saving habit generally is very bad and not encouraging. Loan has it own advantages and also disadvantages on businesses, for a new business who use loan as it start-up capital, the pressure of paying back the loan will be too difficult for the business to cope with as there are other challenges that it tend to face at the initial stage of the business. Loan is more suitable for business expansion and to increase it growth. A business who has already been established and well know in the market or have a good market share can go for loan to expand its business, because the business is already in existed it will be very easy for the business to utilize the loan and to repay back such loan will not be difficult at all. For a new business, they tend to face different challenges in their early stage and there for adding another pressure to meet a loan repayment target will indeed not be a help to the business. [/QUOTE]
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Taking a loan to start up a business, a good idea?
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