30/10/2024
Many Budding entrepreneurs have abandoned viable business ventures because they did not carry out a proper research as to the TURN AROUND TIME of that particular investment.One thing any prospective entrepreneur needs to crack,is knowing exactly how long that type of business venture takes to move from inception ,to break even ,to profitability.No two types of investments share the same turn around period,Others may take 6 months,others 3 months,others 3 years.The higher the profit margins the longer the turn around time for a business venture.From my experience in Zambia,The average turn around time is approximately 2 years to start netting a reasonable profit.So before you chase that loan,do not feel like you are wasting your money engaging an expert to carry out a business feasibly study it may just save you from losing your property to money lenders through for closures.Remember if you are a fresh start up DO NOT ATTEMPT TO BORROW capital from institutions that have a short window period between the day you receive funding to the first loan installment,This area is for established start ups and businesses.Unless you have Done your homework to the hilt.