having done mba, is it advisable for me to start a small scale business right away (by taking loan from bank) or to first join a job?

Ans: In whatever is your area of interest, talk to as many experts and consumers you can.. evaluate if your idea is solving a real problem that your potential consumers face. Fine tune your business idea. Then again talk to people if they are willing to pay you money to sort out the problem.. and how much. Concurrently, talk to experts on the cost of solving the problem/ offering the solution. Wherever you think the cost of solution is lesser than what people are willing to pay, is a good idea to work on prima facie. Then create a detailed feasibility report. Take help of some expert at this stage. Understand the investments and evaluate how you will need to fund the business initially. See if you can get some grants / seed funding. Typically seed funding is through friends and family . There are also a few govt schemes for entrepreneurs- see if you can get some grant/ financial assistance under these schemes. Put some of your own money and start implementing your idea in the mean while. Don’t be over optimistic in your planning. Work for the best but be prepared for the worst.

Ans: Look for a new job. You should think of a business when you have enough bank balance to sustain you for a year at least.

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Ans: If you have a clear business idea and plan to expand then can go for business, but I would still recommend doing MBA as in long run MBA could help in lot of ways like knowledge, networking, etc. Else if you have not yet started your business then MBA better option.