Borrowing Money to Start a Business
Red Stories
Jan 31st 2024

Borrowing Money to Start a Business

Esther O.
Esther O.

Considering current economic realities, borrowing money to start or finance a business is no longer such a big deal. It does not even matter how small the business is. And this is because even businesses that were relatively easy to set up have now become capital-intensive. 


"Think big, start small."

But even starting small has become capital intensive. So either way, you have to take a leap of faith.


"It's okay to borrow."

Many people have viable ideas that they leave to die because they cannot finance them and have ruled out the option of borrowing. You are not borrowing to satisfy a craving; it is for an investment that will bring in more money. 


Borrowing has risks. Yes, but business comes with risks, whether you borrow to finance it or not. Every business decision has its risks. Many businesses fail daily, but borrowing money to start a business is hardly a reason why those businesses fail. Of course, there is a degree of pressure that comes with borrowing money, but this is why it should be a well-thought business with a promising ROI. Whatever you do, please do not borrow money to finance your fantasy. It never ends well.


In the latest episode of our Money Talk Series, we discussed borrowing money to start a business. Do you think it is a smart decision or not? Watch the video and join the conversation on YouTube.


Click here to watch -https://youtu.be/_eD1hU4pWpU?si=yXNgii5nxv31egbC

Share this article:

More great articles

Improving Customer Experience

Improving Customer Experience

Customers are a vital part of success, which makes it wise to keep them at the centre of your business decisions. Part of these decisions is ensuring they have a great experience interacting with your business. And the direct result is that you retain customers while acquiring even more customers.

Read Story
A Redbiller Success Story

A Redbiller Success Story

As a service provider, we are constantly working to ensure our customers have all the payment tools they need to manage their time more effectively and put their business on autopilot, so it is indeed a delight to get this type of feedback. Let me share with you Mr Ola’s experience so far at Redbiller and how he arrived at that statement.

Read Story
Here for a Better Experience

Here for a Better Experience

Apps are one of the best things to come of software development. From the personalised experience to the navigation, almost everyone would pick an app over the web version any day.

Read Story

Go live in 30 minutes or less!

Integrate seamlessly with our test environment. No real money required. Keep it for when it really matters.
  1. 1

    Create account

    First things first: tell us about you and your business and how we can reach you.

    Create one now Icon
  2. 2

    Undergo KYC

    Upload your business documents and other neccessary information to enable us know more about you and your business.

  3. 3

    Go live

    Power your business from start to finish with our wide range of API resources.

    Contact [email protected] if you need help in integrating Redbiller into your web or mobile app.