Is It Good To Start A Business By Taking Loan?

[flower]

It is not ideal to start a business with loans, most especially if it is in the business that has not gained traction because it could make the business crumble very quickly.

 

[Hate2Wait]

Nothing wrong in taking a loan for a business because you may not be able to arrange all the funds internally and better to find a bank from where you can take loan at favorable terms

 

[rubesh]

It's true that starting a business with limited funds can be a challenge, and it's understandable that many new business owners may not have enough capital to fully fund their venture. While there are certainly ways to source funds, such as dipping into personal savings or seeking help from family and friends, it's important to carefully consider the potential risks and downsides of taking out a loan.

 

[Hate2Wait]

If we can plan our business properly then there won't be a problem to get loan for a business or to upgrade it as ultimately we will be able to generate extra revenue from it

 

[Stardom22]

As far as I am concerned, it's not even advisable to take loans for starting businesses. A good capital is that from personal savings, money given to you by your family members, grants and among other better sources.

 

[uptrendfinancialsignal]

I'm not going to advice to take a loan for starting a new business.