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Nairaland Forum / Nairaland / General / Business / Is It Possible To Do Business Without Borrowing? (11100 Views)
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Re: Is It Possible To Do Business Without Borrowing? by BE811APP: 7:12am On Apr 26, 2016 |
Hardly Possible.. Thats a FACT Even Dangote started with borrowed cash 1 Like |
Re: Is It Possible To Do Business Without Borrowing? by Olukologia(m): 7:13am On Apr 26, 2016 |
But U must have a certain personal capital. That borrowed one will complement the ur personal own. Otedola started wit his capital later a bank loaned him 1 Like |
Re: Is It Possible To Do Business Without Borrowing? by ramselly(m): 7:13am On Apr 26, 2016 |
Mbkite: YES BRO ITS VERY POSSIBLE, I STARTED MY BUSINESS WITH JUST 1 LAPTOP, I PRINTER AND I PASS MY NEIGHBOUR GENERATOR IN 2012 WHILE I WAS STILL IN SCHOOL AND AS AT TODAY I OWN A CAFE AND A MIKANO LISTER THAT EVEN SUPPLY LIGHT TO OTHER PEOPLE. IT SOLELY DEPENDS ON THE BUSINESS YOU WANNA VENTURE INTO AND YOUR DETERMINATION. GOODLUCK. 1 Like |
Re: Is It Possible To Do Business Without Borrowing? by Nobody: 7:17am On Apr 26, 2016 |
yes it really possible depending on the size of the business, note no large volume of business that will not require loan. |
Re: Is It Possible To Do Business Without Borrowing? by surrogatesng: 7:19am On Apr 26, 2016 |
knowledge is the foundation of all business not money |
Re: Is It Possible To Do Business Without Borrowing? by Felrouz: 7:20am On Apr 26, 2016 |
Atlantian:Now your answer is more confusing than the question self.. |
Re: Is It Possible To Do Business Without Borrowing? by 4C2215131: 7:22am On Apr 26, 2016 |
Mbkite: Want some real growth and expansion in your business? Call the Money Lender. How you utilise the borrowed fund will determine if the business grows or if you'll end up running back to your village in an effort to hide from the Money Lender. |
Re: Is It Possible To Do Business Without Borrowing? by obowunmi(m): 7:25am On Apr 26, 2016 |
Never. You need to borrow to grow. |
Re: Is It Possible To Do Business Without Borrowing? by Nobody: 7:28am On Apr 26, 2016 |
You can do business without borrowing.
It's high time people realise everything is not about money. Land, layout nko? |
Re: Is It Possible To Do Business Without Borrowing? by Pranxta(m): 7:30am On Apr 26, 2016 |
Ofcourse now, its just like saying every football bet being placed there was a winning without no loss |
Re: Is It Possible To Do Business Without Borrowing? by Eeroh95(m): 7:38am On Apr 26, 2016 |
I hate it when you know the answer but still ask questions |
Re: Is It Possible To Do Business Without Borrowing? by harmless(m): 7:41am On Apr 26, 2016 |
What a stupid question Mbkite: |
Re: Is It Possible To Do Business Without Borrowing? by ayamAgenius: 7:43am On Apr 26, 2016 |
It depends on the nature and size of business... Make I buy oil block with the potential of generating hundreds of thousand barrels per day.... na d whole bank in Nigeria go wan borrow me money to produce from that field... |
Re: Is It Possible To Do Business Without Borrowing? by rheether(f): 7:44am On Apr 26, 2016 |
If you want to do business and you want to grow from strength to strength, you must borrow. 1 Like |
Re: Is It Possible To Do Business Without Borrowing? by ayamAgenius: 7:45am On Apr 26, 2016 |
harmless: What a reckless response from a harmless question... |
Re: Is It Possible To Do Business Without Borrowing? by CaptainKodak(m): 7:46am On Apr 26, 2016 |
Yes,provided ur Dangote's kid |
Re: Is It Possible To Do Business Without Borrowing? by rheether(f): 7:46am On Apr 26, 2016 |
ramselly: And you didn't borrow even from your family? borrowing mustn't be done at the bank. |
Re: Is It Possible To Do Business Without Borrowing? by xzibukz(m): 7:49am On Apr 26, 2016 |
I invested about 2million, I had to borrow 7k for d completion on the project, practically, it's not possible to do business without borrowing 1 Like |
Re: Is It Possible To Do Business Without Borrowing? by Tribunal005(m): 7:53am On Apr 26, 2016 |
As a guru in business section u cannot invest in business without borrowing unless u don't want to grow 1 Like |
Re: Is It Possible To Do Business Without Borrowing? by akanniade10(m): 8:06am On Apr 26, 2016 |
rheether: U dey mind am . Too many lies on this forum 1 Like |
Re: Is It Possible To Do Business Without Borrowing? by BackMeUp: 8:19am On Apr 26, 2016 |
If it is a Yes or No question, the answer is Yes. If it is not a Yes or No question, it depends on so many factors |
Re: Is It Possible To Do Business Without Borrowing? by Krismart(m): 8:29am On Apr 26, 2016 |
It depends on the size of business. If you really want to grow fast within a limited period, then u NEED loan that's if you have the experience and enterprise to handle it otherwise u will crumble. Even Dangote, the Richest black man still borrow to fund some projects, have u asked yourself why? |
Re: Is It Possible To Do Business Without Borrowing? by mokset123: 8:30am On Apr 26, 2016 |
You could partner with one who would provide conterpart funding of your project, as an alternative to outright borrowing 1 Like |
Re: Is It Possible To Do Business Without Borrowing? by Krismart(m): 8:31am On Apr 26, 2016 |
CaptainKodak:Even Dangote borrow |
Re: Is It Possible To Do Business Without Borrowing? by wacuc0: 8:49am On Apr 26, 2016 |
For small scale business you can do that, but when a business has to go corporate, there is no option than to have a loan to boost your financial base. This can come from the shareholders or directors most times from the bank. It might not be called borrowing as per say rather loan with collateral. Borrowing in the normal sense does not go with a collateral, it is most times an understanding between two or more people. When planing a big time business, there is no limit to the growth and to achieve that, you need to have no limit to finance and the only way is loan facilities. For a small scale, the growth depends on how much you have. 1 Like |
Re: Is It Possible To Do Business Without Borrowing? by Lexusgs430: 8:50am On Apr 26, 2016 |
Borrowing or loan, indirectly translates to sharing the risks. Some financial organisations, would jointly do business with individuals or enterprises. They would share the rewards or losses!!!!!! NB: Why have cardiac arrest or drink champagne alone? 1 Like 1 Share |
Re: Is It Possible To Do Business Without Borrowing? by cmecproblem(m): 9:19am On Apr 26, 2016 |
It is possible to do business without borrowing, but most times you will just remain average or below average in your business field. Expanding a business requires alot if funds, it will be good to borrow sufficient funds to expand your business and make more profits. Now borrowing can be from any source- the bank, wealthy family members. If you ask me, i will say borrow for the expansion of a good business. |
Re: Is It Possible To Do Business Without Borrowing? by cmecproblem(m): 9:23am On Apr 26, 2016 |
Eeroh95:It's different knowing one answer and hearing from other people to get different views. |
Re: Is It Possible To Do Business Without Borrowing? by PureWays(m): 9:25am On Apr 26, 2016 |
amtaken:What if you couldn't get a buyer for the land in time and you needed the money for an urgent transaction? |
Re: Is It Possible To Do Business Without Borrowing? by chetaraph(m): 9:36am On Apr 26, 2016 |
It all depends on the profitability of the business. If it's a profitable business i.e returns is greater than cost of debt... Borrowing is even better than using ur full capital especially when tax is involved. |
Re: Is It Possible To Do Business Without Borrowing? by HardMirror(m): 9:43am On Apr 26, 2016 |
Mbkite:That is reality. NO BIG BUSINESS EXISTS THAT DID NOT USE LOANS. FACT even facebook had to use loans a lot before becoming successful. Used face book as example because you would expect it to grow itself since it was a hit even from the very beginning. Why do you think dangote is taking loans? Google secrets of the super rich on youtube and watch the video. |
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