How can I start a business
- Thread starter Stardom22
- Start date
Yes u can take loan but if you think that you have a proper command on some thing that you are going to start a business with then you can forwarded with the idea of business and secondly if you think that you have a managing force of people to work with you or even if you want to earn alone and get profited so you can take loan
You can apply a bank loan, but take note of the interest and the charges if failed to pay a single month. The more if file a loan in a lending company. Better borrow money to your friends and relatives.
There is no problem and yes we can start our business through loan money too as not everyone is able to pay for it from their own savings and it will be risky too so better to secure a loan for this and we need to focus on business and should pay the EMi on time
I wont advice you to use loan for a business startup though. Why not get a side hustle? Am pretty sure you already know the business you want to start, you can start working under someone to save up the needed capital for the business, or get a side hustle to gather the money needed for the business.
Getting a loan for a start-up is not easy. You need collateral to borrow money from banks or other financial institutions. If I start a business, I would use part of my personal savings, and try to apply for government funding. Their interest rate is lower and they can introduce business mentors and investors to you.
It is important to gain relevant experience about a business before starting up.
First of all you have to work on getting a business idea and then go into planning on that particular business idea, before you work on getting the capital to actually start the business.
