ENTREPRENEURSHIP

Question: I applied for a soft loan of N120,000($730 Dollar) which will be paid to me after my guarantor must have signed the agreement form. My fear at the moment is that the interest rate is 25 percent for a repayment period of 90 days.Though my business is very lucrative should i take the loan?

Answer: Yes you can take the loan since your business is lucrative, ninety days is a good time for repayment.

But if the business is not highly in demand, then you should go for a loan that can be spread between six to twelve calendar months. Every business need a passage of time to grow.

for details http://multiskilledprofessionals4all.blogspot.com/

ENTREPRENEURSHIP

Question:When should i start to think big? I started my business two weeks ago but i have this fear that probably this business might fail. Pls, i need your professional advice.
Answer: Think big and grow rich! that is the secret of most rich men.As an entrepreneur,you need to plan ahead of time and project possible ways to be successful in your line of business. Meet experienced business owners in your line of business for mentoring, you will be glad you did. 

ENTREPRENEURSHIP

Question:I'm thinking of starting a mega business selling products, the total cash at hand is N50,000 naira($308) at the moment  what i have will not be able to rent a small shop space to sell those items. Can i really start business with this amount of money? 

Answer:Yes, i once started a business with just N30,000($185), i don't have a shop, i sell to those who will sell to final users and i equally sell to final users too.The business is gradually progressing. You need to understand that as a young entrepreneur you need to be very careful for the first one to two years of your business most especially when you don't have huge cash to start your business. Refrain from spending your capital on things that will not yield immediate returns. If you need professionals advice on how you can use little resources to kick start your business contact us on clockwiseventconsultantusa@ymail.com.