Which is better, pay debt or setup a small business?

If you are up for it, of course starting a small business is always better. But it requires a bit of hard work and dedication than paying the debt.

So, there’s money in your hand. Now, if you pay the debt, what do you have? Debt is gone — nothing else.

When you set up a business with that money, you’ll own the company. The debt will have to wait for a while, but it’s worth it. After you’ve set up everything, you’ll have an excellent running business generating profits for you every day. Then pay your debt. Now, what do you have? A company that you can grow. A continuous source of income.