CAPITAL & LOANS

Kuna ka tip nilisikia na jamaa flani,, i am yet to apply it thanks to hearing it a bit later... Alikuwa anasema that one of great mistake we do as people in biashara is to start business with our own cash yaani all the saving we have. This sound a bit different from what we are regularly advised, DONT START BUSINESS WITH LOAN.

His approach was, have saving in your bank, make sure you saved in a way that your account was active ,,yaani unaweka ukitoa toa ukiweka tena, this way the bank is convinced you are a mwana biashara.

Come up with a budget for your next biashara, if it will cost you the amount equal to your saving, go to your bank ask for a loan equal to or slightly over what you have leaving your savings intact.

Now work with the loan,,, he said working with loan makes you a bit active and open minded, the thought of instalments makes you creative, he however said in some bad months you can use part of saving to clear your instalment , this he said is way to safe than starting with all your savings or fully financed by bank coz you will be forced to "eat job " or enter in multiple debts to clear the major one.

Sijui hapa mnasemaje washikadau na MESH'ers wenzangu. Great sale Day.

#Biz101 #ShujaazBiz #Loans