STARTING A BUSINESS
Before you begin
If you are considering starting a new business there are some important questions for start-ups to consider…
Is it right for you?
You are about to enter a whole new world which can be very fulfilling and rewarding. However, this comes at some cost. Your new business can be very demanding on time, family and financial fronts. Make sure you are ready for what is about to come your way.
You need to plan very carefully as most businesses fail in the early days. The more thought you put into your new idea now can make make your business more likely to succeed. Involve us at an early stage so we can provide the right advice to get you on track.
Are you suited to running your own business?
Running your own business can be very rewarding but are you the right person to do this? Are you ready for the long hours, the hard work and all the extra responsibilities that come with running your own business? There might be some financial risk and you will need determination and total dedication to succeed.
What are your key objectives?
Ultimately we all work to earn money to put food on the table for our families at the very least. You may also be looking for the independence of breaking away from the 9-5 or to provide a much-needed service to your community.
Regardless of your intentions or targets, you should have a projection on how to go forward and what you aim to achieve.
What do you expect of your new venture?
It can take time for new businesses to become established, and many small businesses do not make significant profits in the first few years. Plan ahead, estimate your profits and salary. Can you do this? Is your family ready for this?
How much finance will your business need?
Do you have the funds to put into the business? Do you need help raising finance for initial investment and working capital?
We can help you to answer these questions and to clarify your business objectives.
But for personal, one-on-one advice, make sure you contact us.