Is it Smart to take out a Loan to Start a Poultry Farm?

“Poultry farming is great and all, I get it but where I’m I going to get the money to start?” You may ask. I have already discussed how you can raise money to start but on this occasion, let us examine whether taking out a loan is the best strategy.

The moment you take out a loan is the moment you’ve admitted your first defeat – that you are incapable of running your business with your own resources, therefore, you need external intervention to keep your business afloat. With that said, a loan in itself is not inherently good or bad – like fire, it depends on when and how you utilize it.

In my opinion, taking out a loan to start a venture you understand very little about is reckless. It is better to start small and when you gain some experience, you can go for other people’s money to expand your venture.

Conclusion

Remember, starting your poultry farm in itself carries some risk so don’t exacerbate the risk by taking someone else’s money when you cannot guarantee the success of your new venture.

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