amtaken:
100% possible eg I can sell any of my lands to raise capital and start any business of my choice. Se o tigbo?

If you are talking of a small business. Yes. Can any of your land start a automobile manufacturing company? I used facebook as an example earlier. They had to take a loan of about $300million within it's first year. That is why facebook is what it is today.
So your "any business" be "small business" of your choice.
Loan is IMPORTANT in business for those who want to play in the big league.

Mbkite:

Are u saying it's impossible to do business running in millions of naira without taking loans? what has happened to growing your capital?

Yes!
Note that LOANS don't always come in currency, it could be Goods, or Services
Eg. Getting supplies from your customers without paying immediately
Or having someone render services to you, then you'll pay later.

HardMirror:

If you are talking of a small business. Yes. Can any of your land start a automobile manufacturing company? I used facebook as an example earlier. They had to take a loan of about $300million within it's first year. That is why facebook is what it is today.
So your "any business" be "small business" of your choice.
Loan is IMPORTANT in business for those who want to play in the big league.

My brother it's not important
It's compulsory
When someone like Dangote is still taking loans.

ramselly:


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.

That is because your business is a small business.
So it depends on the type of business and the scale of operation. You can hardly go into serious manufacturing for example without loans. Watch "Dragons Den" on BBC and you will see people doing fine on small scale looking for loans to expand. Why? To accelerate growth.
You can produce zobo with little capital, but to bottle it and compete with lacacera you need Millions of Dollars. How many zobo will you have to sell to raise even 50 million naira? So how do you expect such a person to become a manufacturer that would compete with coca cola and co?.
You need money for Brand development.
Money for automated bottling machines that can meet the high demand
You need money for distribution
You need money for adverts (a single advert in the news paper will cost you almost 2million naira) just 30 second advert in prime time will cost almost 1 million naira.

So, if you don't want to be small forever, you need loan.

write2obi:

My brother it's not important
It's compulsory
When someone like Dangote is still taking loans.

Don't mind people who know nothing about business that are saying he does not need loan. Maybe they want him to remain poor for life. If he is contented with peanuts, he does not need loan. BUT if you want to be RICH, you MUST use loans to get that big plan moving, except you have access to government funds you can steal.

Credit is not compulsory but helpful after full under standing of the business Ask yourself what you really enjoy doing. It may be tempting to chase the money now, but the chances of successfully running a business you’re not passionate about are very slim. When you love what you do, you’ll feel less strain putting in the extra hours and making the sacrifices that the early days require. You’ll be more inclined to go the extra mile, increasing your chances of standing out among your competitors.

Did you read the question at all?

HardMirror:

If you are talking of a small business. Yes. Can any of your land start a automobile manufacturing company? I used facebook as an example earlier. They had to take a loan of about $300million within it's first year. That is why facebook is what it is today.
So your "any business" be "small business" of your choice.
Loan is IMPORTANT in business for those who want to play in the big league.

And you think banks give loans so fast?

PureWays:
What if you couldn't get a buyer for the land in time and you needed the money for an urgent transaction?

amtaken:
Did you read the question at all?

You are so insecure. You try too hard

The question said businesses and you added big businesses to yours.

Can you state your reasons for insulting me?

HardMirror:

You are so insecure. You try too hard

amtaken:
And you think banks give loans so fast?

It's not only banks that give loans dear...
Even at that, it will still be faster than selling a land these days unless ofcourse you are selling it at a very cheap price..

Why is it so slow to sell lands nowadays?

Please enlighten me.

PureWays:
It's not only banks that give loans dear...
Even at that, it will still be faster than selling a land these days unless ofcourse you are selling it at a very cheap price..

amtaken:
Why is it so slow to sell lands nowadays?

Please enlighten me.

Well, I've once worked as a marketter for a Real Estate Agency.
Lands are not as easy to sell as people think, don't get me wrong, land is a very good asset but most lands do take long to sell because of fear of encumbrances from the potential buyers.

People will show up for inspection but won't buy, this happens alot.. It's only the sweetest of deals (Properties) that gets easily sold and these kind of properties (genuine ones) are very rare and are difficult to acquire/sell without any Omo onile wahala..

My conclusion: If you need money for an urgent transaction, selling your land may take up to 6 months or more, and in other not to sell at a ridiculous price it's better you go for a loan.

Lol am an Attorney and I know much about real estate business.


Lands were easily sold prior to 29th May, 2015.

Am I making sense?

PureWays:
Well, I've once worked as a marketter for a Real Estate Agency.
Lands are not as easy to sell as people think, don't get me wrong, land is a very good asset but most lands do take long to sell because of fear of encumbrances from the potential buyers.

People will show up for inspection but won't buy, this happens alot.. It's only the sweetest of deals (Properties) that gets easily sold and these kind of properties (genuine ones) are very rare and are difficult to acquire/sell without any Omo onile wahala..

My conclusion: If you need money for an urgent transaction, selling your land may take up to 6 months or more, and in other not to sell at a ridiculous price it's better you go for a loan.

amtaken:
Lol am an Attorney and I know much about real estate business.


Lands were easily sold prior to 29th May, 2015.

Am I making sense?

Lol.. I get you ma'am..

The uncertainty of the present government has led to drop in demand for high end properties (including lands) in which case is caused by the new policies and of course fear of loosing money.. Even, agents were forced to drop prices of properties (for lease or sale) because the amount of high end properties have outweighed its demand..
Drop in the demand of these properties has strangled the market, it's now very unstable unlike before, which is still what I'm saying..

I'm not sure where you are driving at ma'am , but I'm sure loan will be better incase of a need for money for an urgent transaction..

A client of mine sold an Ikoyi property he bought in 2009 for N150m for N120m in November, 2015 and the buyer paid by 3 instalments!
He lost N30m even after spending a lot of money to change the roof of the house from long span to expensive American shingles and also in some other renovations in the house.

Things are tough in our country now. People don't even have money to feed let alone buy properties.

I hate bank loans because of the high interest rate, except of course Bank of Industry which is not easily accessible and not for all.

PureWays:
Lol.. I get you ma'am..

The uncertainty of the present government has led to drop in demand for high end properties (including lands) in which case is caused by the new policies and of course fear of loosing money.. Even, agents were forced to drop prices of properties (for lease or sale) because the amount of high end properties have outweighed its demand..
Drop in the demand of these properties has strangled the market, it's now very unstable unlike before, which is still what I'm saying..

I'm not sure where you are driving at ma'am , but I'm sure loan will be better incase of a need for money for an urgent transaction..

amtaken:
A client of mine sold an Ikoyi property he bought in 2009 for N150m for N120m in November, 2015 and the buyer paid by 3 instalments!


Things are tough in our country now. People don't even have money to feed let alone buy properties.

I hate bank loans because of the high interest rate, except of course Bank of Industry.

Woow, that's outrageous, 30m Naira loss is huge.
Chai!

You've said it all ma'am, things are tough but I'm sure it will get better.

I wouldn't encourage bank loan for anyone, but sometimes when you are sure of what you are investing on and you've had enough experience in the game (the business) already, it's okay to go for it.. It's a necessary call.

Atlantian:
Yes, but the growth will be arithmetic proportion if it survives the risk tenure. You need at least 2 years of survival with incremental profiteering ratio before you can totally be considered de-risked. But if you desire geometric growth, borrowing is the compelling option after being de-risked.

please explain more.

Is it possible to drive a very sound car everyday for 1 year without changing the oil or buying fuel

amtaken:

He lost N30m even after spending a lot of money to change the roof of the house from long span to expensive American shingles and also in some other renovations in the house.

Woow!

You can start a business without borrowing but you can hardly make a huge business that quenches poverty without borrowing (very rare) . except if

1. Your father is a millionaire or has a good source of income that is ready to dash you for free
2. You are a 419 or its varies
3. You played lotto/baba ijebu
4. Your source of money is questionable

.....No one brought money from Heaven, you wanna make a successful huge business, that involves risks, and such risk involves capitals, and that capital will never grow on trees, you will have to source for it i.e BORROW!! Ask the successful businessmen

Kindly break this down. Ur terms rather technical

Atlantian:
Yes, but the growth will be arithmetic proportion if it survives the risk tenure. You need at least 2 years of survival with incremental profiteering ratio before you can totally be considered de-risked. But if you desire geometric growth, borrowing is the compelling option after being de-risked.