Insufficient capital to startup

[Niyi Briggs]

Or better still, start at the level that your available capital can carry. For instance, if you want to start a poultry, get a small shed and raise even if it is 15 birds that you conveniently raise. With that, you can grow steadily with peace of mind.

 

[fcbetting]

Startup is not easy run as people think. Some people gives shares as payout because of lack of investment but in some time you must start pay workers especially those with experience.

 

[Starmix]

It's not s good startup with insufficient capital. You will never satisfy the customers. Your services will be insufficient because you lack supply of goods they mostly need. They will never come back.

 

[fcbetting]

Startup can collect money using kick start websites and campaings. You must have good idea, plan, road map and convince people invest in it. Maybe you can borrow money from your family if they trust you.

 

[Starmix]

The family can always extend a helping hand if see there son or daughter fully prepared to operate a business first time. If what's lacking is insufficiency of the capital , parents surely allow.

 

[fcbetting]

If owner want keep 100% owner ship it is called bootstrapping. Bootstrapping is very rare since people can't collect enough money. Investors want share, banks to. You can get loan in bank without giving shares, but interest will be much bigger.

 

[Starmix]

For me it's not advisable to do your suggestions. It's better for the candidate to save more first invest the small money through buy and sell of poultry of live products.

 

[fcbetting]

First invest can be small but it will be spended fast, especially if you start hire people. Also tech expenses can rise. Example more users on website require invest in better hosting, bigger database.

 

[Starmix]

The investment I mean offline not online. There is no guarantee of an immediate earning unlike buy and sell of poultry products and sell them to the market or contact a buyer online.

 

[Springtime]

Indeed, capital is a major issue for startups. Here, many entrepreneurs apply for government's SME loan for startups. The interest rate of such kind of loan is lower. The government may also refer venture capitalists and mentors for the new business.

 

[Golden9]

I always advise people to use personal funds if they are starting a new business, and only take out loans for a business that has been running successfully longer than two years

 

[Etini Willie]

Startup is not easy run as people think. Some people gives shares as payout because of lack of investment but in some time you must start pay workers especially those with experience.

Why would you want to hire and pay workers when you are just starting a business? That is where you would complicate things for yourself. You need to start at a level where just you can run the business or at most one staff.

 

[Starmix]

It is a risk to start a business with insufficient capital. You are giving yourself a big problem. The customers need quality services and products that are found in a business center. It is so annoying to enter a business center lacking items sold.

 

[Authenticity101]

It's also not good to apply for a loan just to start a business. What if your business won't progress. The loan interest if not paid on date surcharges. The more burden to carry on. It's better to save more and start a business you can afford.

I agree with you that taking a loan to start a business may not be such a good idea. I too would prefer to save up the money and grow it till it is enough for me to start a business.

 

[Bisolami]

I am one of the people who are never going to be comfortable when it comes to getting loans to start a business which is why I prefer to save my own capital and use it to start my business.

I cannot even do it because I won't feel comfortable too. It is better for me not to do the business at all than to start taking loans for the business

 

[Starmix]

Yes you're so right. It's not logical to start a business almost zero capital. That will be a disgusting decision that may lead to a business failure. The business can wait, it's best to have sufficient capital to be safe.

I agree with you that taking a loan to start a business may not be such a good idea. I too would prefer to save up the money and grow it till it is enough for me to start a business.

 

[Smalto]

Absolutely correct, we should never downplay the importance of starting little while aiming big, there's nothing wrong with that, it is just as if we are gradually growing the right way and also improving our brain muscles and gathering experience indirectly.

 

[eldavis]

I am one of the people who are never going to be comfortable when it comes to getting loans to start a business which is why I prefer to save my own capital and use it to start my business.

Same here, even borrowing from people i know, i find it pretty hard to do so, not to mention borrowing huge amount of money for a business startup that i do not even know how it would turn out in the end. Saving money to startup takes time but it is a lot safer.

 

[Blessed19]

this is the major issue when it comes to businesses these days as the capital to sustain the business during this times where the economy of many countries how is bad.