Kingsley
Valued Contributor
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?
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?