Once I have done all the research how will know I am ready to start my business?

2 Answers | Add Yours

thanatassa's profile pic

Posted on

It generally takes at least a year for a new business to become profitable. Therefore, the main issue in timing when you can start a small business is one of personal finance. First, if you live in the United States, you need to make sure that you have medical insurance. Next, you need to make a realistic budget of personal expenses, and have adequate savings to cover a full year of personal expenses (rent, food, etc.). Finally, you need a full budget for your business and adequate funds to cover startup costs and a year's worth of operating expenses.

sarahokoth's profile pic

Posted on

you will have to look for a viable business opportunity where:

1.its envirionment is good

2.you can meet up with the capital required in stting up the business.

3.the competition

We’ve answered 331,137 questions. We can answer yours, too.

Ask a question