It all depends on the circumstances. Taking out a loan can also be a good way to invest in a business opportunity or an investment that would offer long term benefits. There are several risks to consider when taking out a loan from the bank. If you are unable to make your timely payments, you would then default on your loan and that would obviously come with some additional problems.
A loan is only useful when taken out for a good cause. In this case, a good cause is something that would bring in huge profits later on.

Competition surely brings out the creativity and innovation in producers. And without a healthy competition, goods produced would be of very low standard as manufacturers would definitely choose profit over the quality of goods produced. With competition, manufacturers and producers alike would now be forced to make standard and quality goods out of fear of losing customers to rival businesses. Thanks to competition

What a wonderful thought it is that some of the best days of our lives haven’t even happened yet.

Anne Frank

You’re probably not a good business man if you’re scared of a little competition. Competition is good and encouraged for both parties. With competition, you could be more innovative which in turn would help grow your business. It would also help you stay on your toes and keep you alert cause you’re fully aware other businesses would just love to have your clients the moment you slip up.