Economic Factors to Consider When Starting a Business
Posted On Wednesday, August 27, 2008 at by Sun JunHere are some financial questions you should ask yourself before starting your own business:
- Do you have six months of living expenses set aside to live on during the startup period?
- How long will it take for your salary from your new business to equal or exceed what you make at your current job? Can you afford to wait that long?
- How much money do you need to open your business? Where will you get the money?
- Is the current state of the economy likely to impact your business?
