What alternative do we have as against taking a loan?

[Kingsley]

If you are keen to start a business but have no starting capital, then there are some alternative options rather than taking out a business loan.

When one is considered starting off with a business that doesnt require much capital that you could perhaps self loan, This will allow you to earn some money and then invest your earnings into the larger idea. Always my preferred option!

Again, think about having a business partner. There will be people out there who want to partner into a business but don’t have experience in business, but do have capital. Discuss an equal partnership. You can often find these people on message boards and forums. They will probably even bring their own set of skills to the table!

Lastly, if you are adamant on taking out a business loan, then consider purchasing an established business.

What's your take?

 

[btaliat]

There are many ways of funding business aside lain taking. In fact the easiest one is to use personal saving. This can be done through self discipline. One can decide to save for a particular project for a particular time. And if there is great determination, then it can be achieved. Aside this, one can borrow from friends and family

 

[Alexandoy]

A business loan is taboo to me except when the business is expanding. Especially for starting up a business when you borrow money you are already putting pressure on yourself. The installment payments can be an interference in your mind that you cannot give complete focus on the business operation.

 

[Abigael]

Those are very good points you have made as alternatives to taking business loans. You can decide to self fund yourself by taking your savings for business or by selling one of your properties. Partnership is also great as the funds can easily be collected that is enough to start the business.