Operation of small businesses

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Stardom22

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The majority of the businesses that are being started up nowadays fall in the SME category (small businesses) So what are the best credit facilities that you can go for your small business?

 

cherry123

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I will prefer using my savings for starting my business I don't just like the idea of borrowing money from bsnks or other financial institution.

 

uptrendfinancialsignal

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Small business is extremely important to start and it is one of the things that we should keep doing.

 

nomad

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You can either invite your friends and family to invest in your business or use your own savings, or even sell assets to start your small and medium business

 

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Afeefah

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You save a lot before you start the business and make a good plan. You can get help from family and friends too.
Just not advisable to start a business with a loan if you aren't sure the business has a high rate of succeeding.

 

Reedex

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Smaller businesses are much more easier to execute because it requires less stress.

 

Heatman

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A lot of people don't have the capacity to start a big business. It's why most of them start out with small scale business.

 

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• #8

cherry123 said:

I will prefer using my savings for starting my business I don't just like the idea of borrowing money from bsnks or other financial institution.

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I also prefer to use my savings to start a business because it will not be good to take a loan so as to use it to start a business

 

cherry123

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Bisolami said:

I also prefer to use my savings to start a business because it will not be good to take a loan so as to use it to start a business

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Yeah losn comes at a high cost because of its high interest rate

 

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Springtime

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In addition to using own savings, I'll apply for government SME funding. They offer low interest rate and get you connected with venture capitalists.

 

cherry123

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The good thing is that small businesses can be started without the intervention of any government.

 

Heatman

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Bisolami said:

I also prefer to use my savings to start a business because it will not be good to take a loan so as to use it to start a business

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I will never have any kind of peace of mind when I use borrowed money to start my business. It's going to give me HBP.

 

eldavis

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cherry123 said:

I will prefer using my savings for starting my business I don't just like the idea of borrowing money from bsnks or other financial institution.

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I second this. Using your savings would definitely give you peace of mind and less pressure than when you borrow.

 

cherry123

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eldavis said:

I second this. Using your savings would definitely give you peace of mind and less pressure than when you borrow.

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Exactly this is why I don't like to borrow. you would not rest still you have paid

 

Shavkat

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I am not into credit thing. So I would choose the best option and that is to use my savings as the capital for a particular business.

 

Imran Noori

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• #16

cherry123 said:

I will prefer using my savings for starting my business I don't just like the idea of borrowing money from bsnks or other financial institution.

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You are doing great, taking loan is not the way to start your business because what if your business fail?

 

uptrendfinancialsignal

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• #17

Operating a small business could be a daunting challenge as you need enough experience to do this.