if you didnt have much money and wanted to buy or stock or create a website is a loan the right thing to do?

Im not talking thousands maybe just £800 ...


has anyone taken out loans towards there buisness?

Regards

No i haven't. However i have been lucky as i have someone who believes in me and has decided to financially support my venture.

Business is about taking risks, if you seriously believe it is going to be worth it then take that risk. Nobody can speak for you on here. You need to sit down and contemplate whether you think it's worth it. Nobody else can do that for you, and nobody else can tell you what to do. Ultimately the decision is yours.

Good luck.

A loan is a decent starting point for a new business - however, as Emily as said, you need to consider the relative risks of taking one out. Ultimatly you need to be happy the loan is servicable, i.e. you can meet the re-payments when they fall due. New Businesses experience cash flow difficulties the the early stages and along the way also, so you need to bare this in mind if you are taking one out.

Good Luck with the venture.

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With a smallish amount such as that try looking at other ways to get the money where you have more time to pay back, so you don't get into as much financial trouble which can effect you with the banks in later life if anything was to go wrong (im not saying it won't!). Do you know anybody, such as a relative, who could lend you the money who you could pay back slowly?

aint you the guy that wanted to take on ebay? then become a dropshipper? i fought you were only 15 therefore you cant get a loan, ask your parents?

Ebay lol that was a joke and still looking for dropshipping but yes i am 15 so it would be under parents names anyway,but none of the family have money to just give to me atm

Loans can be a good thing if you have a solid plan in place. Although I have always thought that if you only want a small amount (i.e. £500-1000) then trading, working and borrowing from friends and family are your best options.

I have always been a believer that earning your first £1000 by trading will teach you many valuable lessons. Almost like a business apprenticeship.

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Originally Posted by JustCraig

Loans can be a good thing if you have a solid plan in place. Although I have always thought that if you only want a small amount (i.e. £500-1000) then trading, working and borrowing from friends and family are your best options.

I have always been a believer that earning your first £1000 by trading will teach you many valuable lessons. Almost like a business apprenticeship.

100% agree with Craig. I take it if your 15, your still living at home and have the security and support that comes along with it. Why don't you make £1000 your goal and trade your way towards it. Sell some things from around the home to gather up some cash and invest in a small bit of stock.

There's loads of options out there besides wholesalers. You could start with the market place here, look in bargain stores like B&M, look for bargains in local ads papers and carboots and then sell them on ebay etc. Trade your way to £1000 as Craig say's and get some experience then you'd be able to use a loan to maximum effect. Best a luck bud.:niceone:

Ive Got A job At Burger King Part Time now ---

Bring in some extra money :niceone: