03-29-2018, 08:50 PM
[quote quote=1007]Business expansion is definitely a good step in any business. But borrowing money should be a last choice for acquiring fund for it. Borrowing money specially with high interest rates should be carefully planned. It could be a make or break, but with careful planning, you will have the right decisions on your finances.[/quote]
I totally agree with you. For me business expansion is a vital step for a business to grow and become more successful in the future, however borrowing money I guess is not a good option. Especially if you don't have a plan or a goal on how and when you will pay that debt. Creditors nowadays tend to add so much interest that it makes debtors pressured. For me, it's better to analyze first if you can actually pay the debt and make sure that you're ready in case of failure because business will always be about failure and success.
I totally agree with you. For me business expansion is a vital step for a business to grow and become more successful in the future, however borrowing money I guess is not a good option. Especially if you don't have a plan or a goal on how and when you will pay that debt. Creditors nowadays tend to add so much interest that it makes debtors pressured. For me, it's better to analyze first if you can actually pay the debt and make sure that you're ready in case of failure because business will always be about failure and success.