LAPO Founder, Ehigiamusoe Admonishes Young Entrepreneurs Not To Use Loans To Start Business
LAPO Founder, Ehigiamusoe Admonishes Young Entrepreneurs Not To Use Loans To Start Business By Editor The founder of Lift Above Poverty Organisation (LAPO), Dr. Godwin Ehigiamusoe, has advised young entrepreneurs to avoid loans or borrowed money when starting a new business. He also cautioned that depending on loans at the early stage could undermine the survival of a new enterprise and business Dr. Ehigiamusoe, gave the advice during a conversation titled:" From Ideas to Enterprise, organised by DeeMoat Hub Books & Ideas," said young entrepreneurs must first learn to mobilise personal resources and support from family and friends before considering borrowing to finance business expansion. Speaking on lessons from his book, Twelve Commandments for Business Owners: A Guide to Business Success, the microfinance pioneer stressed that while external funding was important for business growth, loans should not be the starting point for an in...