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Personal loan
Taking a loan to start up a business, a good idea?
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[QUOTE="moonchild, post: 243913, member: 57467"] Well, I used to say it's not advisable to take loan to start a business but I'll take back those words and advise you to go for it, but that comes with a rule of knowing what to do, before you take a loan to start up a business you should know exactly what you're doing that is, you should do your feasibility studies very well and make sure there's a demand for that business you're gunning for, I think if these are correct then you actually stand a chance to succeed in that business, the percentage for success is as high as 80%. Because of that you can go ahead and get a loan to start it up because you have full assurance that it will work out, but if you did not do a feasibility studies is not advisable to just get a loan to start a business because it will eventually fail. Business is not hard as it is painted if you're truly fulfilling a need, but when you start up a business or offering a service that no one needs then it will be very hard to scale and making money out of that type of business is not feasible. [/QUOTE]
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Taking a loan to start up a business, a good idea?
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